Granahan Investment Management Inc. MA Sells 94 Shares of Canadian Imperial Bank of Commerce (CM)

Granahan Investment Management Inc. MA lowered its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.3% during the first quarter, Holdings Channel reports. The fund owned 2,776 shares of the bank’s stock after selling 94 shares during the period. Granahan Investment Management Inc. MA’s holdings in Canadian Imperial Bank of Commerce were worth $239,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of CM. Two Sigma Securities LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the first quarter valued at about $238,000. Kernodle & Katon Asset Management Group LLC raised its position in Canadian Imperial Bank of Commerce by 2.0% in the first quarter. Kernodle & Katon Asset Management Group LLC now owns 18,656 shares of the bank’s stock worth $1,608,000 after buying an additional 366 shares in the last quarter. KCG Holdings Inc. raised its position in Canadian Imperial Bank of Commerce by 323.0% in the first quarter. KCG Holdings Inc. now owns 35,951 shares of the bank’s stock worth $3,099,000 after buying an additional 27,451 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Canadian Imperial Bank of Commerce by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 239,987 shares of the bank’s stock worth $20,689,000 after buying an additional 9,819 shares in the last quarter. Finally, Parallel Advisors LLC raised its position 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 worth $152,000 after buying an additional 129 shares in the last quarter. 51.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce (NYSE CM) opened at 80.39 on Monday. The firm has a market capitalization of $32.29 billion, a P/E ratio of 8.85 and a beta of 1.08. Canadian Imperial Bank of Commerce has a 12 month low of $72.62 and a 12 month high of $92.22. The company’s 50 day moving average price is $78.96 and its 200 day moving average price is $83.94.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Wednesday, June 28th will be issued a dividend of $0.9406 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date is Monday, June 26th. Canadian Imperial Bank of Commerce’s payout ratio is 41.84%.

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CM has been the topic of a number of research reports. Zacks Investment Research lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. Credit Suisse Group raised Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a report on Friday, March 31st. National Bank Financial reissued an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 18th. Finally, BidaskClub raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $101.44.

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.

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)

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