Canadian Imperial Bank of Commerce (NYSE:CM) Stake Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 37.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,043,106 shares of the bank’s stock after purchasing 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 and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Crews Bank & Trust acquired a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $30,000. Sandy Spring Bank acquired a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $32,000. IFP Advisors Inc grew its holdings in Canadian Imperial Bank of Commerce by 318.1% in the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after buying an additional 404 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter valued at approximately $44,000. Institutional investors own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

CM has been the subject of a number of analyst reports. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research 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 target price for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Stock Down 2.0 %

CM opened at $56.16 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $52.79 billion, a PE ratio of 10.50, a P/E/G ratio of 1.62 and a beta of 1.07. The stock’s fifty day moving average is $60.03 and its 200-day moving average is $62.05. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year 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. Shareholders of record on Friday, March 28th will be issued a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is 48.03%.

Canadian Imperial Bank of Commerce Company 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.