Laurel Wealth Advisors Inc. continued to hold its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,000 shares of the bank’s stock at the close of the 2nd quarter. Laurel Wealth Advisors Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $486,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in Canadian Imperial Bank of Commerce by 55.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock valued at $120,000 after purchasing an additional 526 shares in the last quarter. INR Advisory Services LLC bought a new stake in Canadian Imperial Bank of Commerce in the second quarter valued at approximately $125,000. Opera Trading Capital bought a new stake in Canadian Imperial Bank of Commerce in the second quarter valued at approximately $136,000. Nationwide Fund Advisors bought a new stake in Canadian Imperial Bank of Commerce in the second quarter valued at approximately $138,000. Finally, Parallel Advisors LLC increased its stake in Canadian Imperial Bank of Commerce by 7.2% in the first quarter. Parallel Advisors LLC now owns 1,915 shares of the bank’s stock valued at $152,000 after purchasing an additional 129 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

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Canadian Imperial Bank of Commerce (NYSE:CM) traded up 1.09% on Tuesday, hitting $88.95. 153,955 shares of the stock traded hands. Canadian Imperial Bank of Commerce has a 1-year low of $72.62 and a 1-year high of $92.22. The company has a market cap of $38.78 billion, a price-to-earnings ratio of 9.83 and a beta of 1.09. The stock has a 50-day moving average price of $86.77 and a 200 day moving average price of $83.57.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, September 28th will be paid a dividend of $1.0329 per share. This represents a $4.13 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend is Wednesday, September 27th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. Canadian Imperial Bank of Commerce’s payout ratio is 49.82%.

CM has been the subject of several recent analyst reports. BidaskClub raised shares of Canadian Imperial Bank of Commerce from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Canaccord Genuity initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, July 18th. They issued a “buy” rating for the company. Finally, TD Securities raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Canadian Imperial Bank of Commerce has an average rating of “Hold” and an average target price of $101.80.

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.

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

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