First Trust Advisors LP increased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 23.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 168,982 shares of the company’s stock after buying an additional 31,866 shares during the period. First Trust Advisors LP’s holdings in Canadian Imperial Bank of Commerce were worth $13,101,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. LPL Financial LLC boosted its stake in Canadian Imperial Bank of Commerce by 6.6% in the first quarter. LPL Financial LLC now owns 10,816 shares of the company’s stock worth $794,000 after buying an additional 670 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Canadian Imperial Bank of Commerce by 351.6% in the first quarter. Panagora Asset Management Inc. now owns 51,964 shares of the company’s stock worth $3,882,000 after buying an additional 40,457 shares during the last quarter. Logan Capital Management Inc. boosted its stake in Canadian Imperial Bank of Commerce by 6.3% in the first quarter. Logan Capital Management Inc. now owns 9,251 shares of the company’s stock worth $691,000 after buying an additional 545 shares during the last quarter. Nexus Investment Management Inc. boosted its stake in Canadian Imperial Bank of Commerce by 2.2% in the second quarter. Nexus Investment Management Inc. now owns 32,763 shares of the company’s stock worth $2,444,000 after buying an additional 713 shares during the last quarter. Finally, British Columbia Investment Management Corp boosted its stake in Canadian Imperial Bank of Commerce by 1.8% in the second quarter. British Columbia Investment Management Corp now owns 60,746 shares of the company’s stock worth $3,511,000 after buying an additional 1,100 shares during the last quarter. 52.80% of the stock is currently owned by hedge funds and other institutional investors.

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

Canadian Imperial Bank of Commerce (NYSE:CM) traded down 0.41% during midday trading on Wednesday, hitting $78.62. 412,233 shares of the stock traded hands. The stock has a market capitalization of $31.04 billion, a P/E ratio of 10.31 and a beta of 1.06. The stock’s 50-day moving average price is $75.89 and its 200-day moving average price is $77.08. Canadian Imperial Bank of Commerce has a 52 week low of $56.29 and a 52 week high of $82.60.

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Several analysts recently weighed in on CM shares. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. Barclays PLC reissued an “underperform” rating and issued a $93.00 price objective (up previously from $87.00) on shares of Canadian Imperial Bank of Commerce in a research note on Sunday, August 21st. Canaccord Genuity reissued a “neutral” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, August 25th. Royal Bank Of Canada boosted their price objective on shares of Canadian Imperial Bank of Commerce from $104.00 to $112.00 and gave the stock a “sector perform” rating in a research note on Friday, August 26th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $103.00 price objective (up previously from $97.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 26th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and an average price target of $99.07.

Canadian Imperial Bank of Commerce Company 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.

5 Day Chart for NYSE:CM

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