WESPAC Advisors SoCal LLC lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,895 shares of the bank’s stock after buying an additional 1,475 shares during the period. Canadian Imperial Bank of Commerce makes up about 2.5% of WESPAC Advisors SoCal LLC’s holdings, making the stock its 19th biggest holding. WESPAC Advisors SoCal LLC’s holdings in Canadian Imperial Bank of Commerce were worth $3,887,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Canadian Imperial Bank of Commerce by 55.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock worth $120,000 after buying an additional 526 shares during the last quarter. INR Advisory Services LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth $125,000. Opera Trading Capital acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth $136,000. Nationwide Fund Advisors acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth $138,000. Finally, Parallel Advisors LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 7.2% during the 1st quarter. Parallel Advisors LLC now owns 1,915 shares of the bank’s stock worth $152,000 after buying an additional 129 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

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Shares of Canadian Imperial Bank of Commerce (CM) traded up 0.79% during mid-day trading on Thursday, reaching $88.17. The company had a trading volume of 119,536 shares. The company’s 50-day moving average is $85.56 and its 200 day moving average is $83.58. 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 market capitalization of $38.44 billion, a P/E ratio of 10.03 and a beta of 1.08.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Thursday, September 28th will be issued a dividend of $1.0329 per share. The ex-dividend date is Wednesday, September 27th. This represents a $4.13 dividend on an annualized basis and a dividend yield of 4.72%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 45.25%.

CM has been the subject of several recent research reports. Zacks Investment Research downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Friday, May 26th. TD Securities upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Wednesday, September 6th. Canaccord Genuity set a $117.00 price target on Canadian Imperial Bank of Commerce and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, BidaskClub upgraded Canadian Imperial Bank of Commerce from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $101.80.

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.

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

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