JPMorgan Chase & Co. Grows Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

JPMorgan Chase & Co. lifted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 37.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,043,106 shares of the bank's stock after buying an additional 2,185,262 shares during the quarter. JPMorgan Chase & Co. owned about 0.85% of Canadian Imperial Bank of Commerce worth $508,566,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Korea Investment CORP increased its position in shares of Canadian Imperial Bank of Commerce by 14.7% during the fourth quarter. Korea Investment CORP now owns 695,902 shares of the bank's stock worth $43,998,000 after acquiring an additional 89,158 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Canadian Imperial Bank of Commerce by 3.3% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 571,664 shares of the bank's stock worth $36,223,000 after purchasing an additional 18,100 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 3.7% in the fourth quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank's stock worth $1,492,138,000 after purchasing an additional 851,164 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 16.1% in the fourth quarter. Prudential Financial Inc. now owns 37,295 shares of the bank's stock worth $2,358,000 after purchasing an additional 5,185 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 39,385,238 shares of the bank's stock valued at $2,491,431,000 after purchasing an additional 749,843 shares in the last quarter. Institutional investors own 49.88% of the company's stock.

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Canadian Imperial Bank of Commerce Trading Up 3.2 %

Canadian Imperial Bank of Commerce stock traded up $1.85 during trading hours on Thursday, reaching $59.74. The stock had a trading volume of 721,969 shares, compared to its average volume of 1,085,050. The stock has a market cap of $56.16 billion, a PE ratio of 11.17, a PEG ratio of 1.62 and a beta of 1.07. The company has a fifty day simple moving average of $59.66 and a 200-day simple moving average of $61.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 52 week low of $46.50 and a 52 week high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.6723 per share. This represents a $2.69 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 48.03%.

Wall Street Analyst Weigh In

Several analysts have recently commented on CM shares. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Friday, February 14th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $92.00.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.