JPMorgan Chase & Co. Acquires 334,545 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

JPMorgan Chase & Co. lifted its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 6.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,857,844 shares of the bank's stock after acquiring an additional 334,545 shares during the period. JPMorgan Chase & Co. owned approximately 0.62% of Canadian Imperial Bank of Commerce worth $359,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 4.4% in the 3rd quarter. Franklin Resources Inc. now owns 880,838 shares of the bank's stock valued at $54,606,000 after buying an additional 37,419 shares in the last quarter. Hobbs Group Advisors LLC raised its position in Canadian Imperial Bank of Commerce by 675.8% in the third quarter. Hobbs Group Advisors LLC now owns 2,211 shares of the bank's stock worth $136,000 after purchasing an additional 1,926 shares in the last quarter. Geode Capital Management LLC lifted its stake in Canadian Imperial Bank of Commerce by 8.6% during the third quarter. Geode Capital Management LLC now owns 4,245,235 shares of the bank's stock worth $262,598,000 after purchasing an additional 336,854 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at approximately $10,045,000. Finally, MML Investors Services LLC raised its holdings in shares of Canadian Imperial Bank of Commerce by 0.5% in the 3rd quarter. MML Investors Services LLC now owns 44,008 shares of the bank's stock worth $2,699,000 after buying an additional 237 shares in the last quarter. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Trading Up 0.8 %

Canadian Imperial Bank of Commerce stock traded up $0.50 during midday trading on Monday, hitting $63.39. 621,013 shares of the stock were exchanged, compared to its average volume of 1,352,019. Canadian Imperial Bank of Commerce has a 52 week low of $43.86 and a 52 week high of $67.45. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $59.88 billion, a PE ratio of 11.85, a P/E/G ratio of 1.78 and a beta of 1.06. The company has a fifty day simple moving average of $64.39 and a two-hundred day simple moving average of $57.99.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be issued a $0.6912 dividend. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.76 annualized dividend and a dividend yield of 4.36%. Canadian Imperial Bank of Commerce's payout ratio is 53.46%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CM. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $97.00 price target (up previously from $74.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, December 6th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of "Hold" and an average target price of $89.00.

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.