HL Financial Services LLC bought a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the second quarter, Holdings Channel reports. The fund bought 6,626 shares of the bank’s stock, valued at approximately $538,000.

A number of other institutional investors have also recently made changes to their positions in CM. CIBC Asset Management Inc boosted its position in shares of Canadian Imperial Bank of Commerce by 13.3% in the second quarter. CIBC Asset Management Inc now owns 7,730,504 shares of the bank’s stock worth $627,527,000 after buying an additional 907,963 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Canadian Imperial Bank of Commerce during the first quarter worth approximately $82,838,000. Acadian Asset Management LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 14.3% in the first quarter. Acadian Asset Management LLC now owns 5,684,299 shares of the bank’s stock worth $488,755,000 after buying an additional 709,927 shares during the period. TD Asset Management Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 3.1% in the second quarter. TD Asset Management Inc. now owns 20,328,408 shares of the bank’s stock worth $1,649,658,000 after buying an additional 620,661 shares during the period. Finally, Barometer Capital Management Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce during the first quarter worth approximately $34,100,000. Institutional investors own 48.19% of the company’s stock.

Canadian Imperial Bank of Commerce (NYSE CM) opened at 84.16 on Friday. Canadian Imperial Bank of Commerce has a 52 week low of $72.62 and a 52 week high of $92.22. The stock has a 50 day moving average price of $84.22 and a 200 day moving average price of $84.05. The stock has a market cap of $33.80 billion, a PE ratio of 8.80 and a beta of 1.09.

The business also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Wednesday, June 28th were given a $0.9406 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.47%. The ex-dividend date was Monday, June 26th. Canadian Imperial Bank of Commerce’s payout ratio is 41.18%.

COPYRIGHT VIOLATION WARNING: “HL Financial Services LLC Buys Shares of 6,626 Canadian Imperial Bank of Commerce (NYSE:CM)” was first reported by Daily Political and is the property of of Daily Political. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://www.dailypolitical.com/2017/08/13/hl-financial-services-llc-buys-shares-of-6626-canadian-imperial-bank-of-commerce-nysecm.html.

A number of equities analysts recently commented on CM shares. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Friday, May 5th. National Bank Financial reiterated an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 18th. BidaskClub upgraded Canadian Imperial Bank of Commerce from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, Canaccord Genuity initiated coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, July 18th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus target price of $100.63.

About Canadian Imperial Bank of Commerce

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.

Want to see what other hedge funds are holding CM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM).

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

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.