Verition Fund Management LLC Raises Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Verition Fund Management LLC raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 21.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,705 shares of the bank’s stock after acquiring an additional 1,348 shares during the period. Verition Fund Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. TD Asset Management Inc. raised its holdings in Canadian Imperial Bank of Commerce by 3.1% during the 2nd quarter. TD Asset Management Inc. now owns 20,328,408 shares of the bank’s stock valued at $1,649,658,000 after buying an additional 620,661 shares during the period. Vanguard Group Inc. grew its position in Canadian Imperial Bank of Commerce by 16.4% in the 2nd quarter. Vanguard Group Inc. now owns 9,859,474 shares of the bank’s stock valued at $800,194,000 after acquiring an additional 1,391,019 shares during the last quarter. CIBC Asset Management Inc grew its position in Canadian Imperial Bank of Commerce by 13.3% in the 2nd quarter. CIBC Asset Management Inc now owns 7,730,504 shares of the bank’s stock valued at $627,527,000 after acquiring an additional 907,963 shares during the last quarter. Acadian Asset Management LLC grew its position in Canadian Imperial Bank of Commerce by 7.2% in the 2nd quarter. Acadian Asset Management LLC now owns 6,091,971 shares of the bank’s stock valued at $494,364,000 after acquiring an additional 407,672 shares during the last quarter. Finally, Investec Asset Management LTD grew its position in Canadian Imperial Bank of Commerce by 2.3% in the 2nd quarter. Investec Asset Management LTD now owns 3,220,130 shares of the bank’s stock valued at $261,315,000 after acquiring an additional 71,926 shares during the last quarter. 46.30% of the stock is currently owned by institutional investors and hedge funds.

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Several equities analysts have commented on CM shares. TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Wednesday, September 6th. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Tuesday, July 18th. Canaccord Genuity set a $117.00 price target on Canadian Imperial Bank of Commerce and gave the stock a “buy” rating in a research report on Thursday, August 24th. BidaskClub downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Citigroup Inc. downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research report on Wednesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $102.17.

Canadian Imperial Bank of Commerce (NYSE:CM) traded down 0.3024% during midday trading on Friday, reaching $87.7738. The company’s stock had a trading volume of 77,733 shares. The stock’s 50-day moving average price is $88.46 and its 200 day moving average price is $83.87. The firm has a market capitalization of $38.26 billion, a PE ratio of 9.6988 and a beta of 1.09. Canadian Imperial Bank of Commerce has a 1-year low of $72.62 and a 1-year high of $92.22.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Thursday, September 28th will be paid a $1.0329 dividend. This represents a $4.13 dividend on an annualized basis and a yield of 4.69%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. The ex-dividend date is Wednesday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 49.82%.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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