JPMorgan Chase & Co. Has $508.57 Million Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

JPMorgan Chase & Co. grew its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 37.3% in the 4th quarter, HoldingsChannel reports. The firm owned 8,043,106 shares of the bank’s stock after acquiring an additional 2,185,262 shares during the quarter. JPMorgan Chase & Co.’s holdings in Canadian Imperial Bank of Commerce were worth $508,566,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CM. FMR LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 3.3% in the third quarter. FMR LLC now owns 2,106,913 shares of the bank’s stock worth $129,239,000 after buying an additional 67,480 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at approximately $10,045,000. Rhumbline Advisers grew its position in Canadian Imperial Bank of Commerce by 12.6% during the 4th quarter. Rhumbline Advisers now owns 3,622 shares of the bank’s stock worth $229,000 after purchasing an additional 404 shares in the last quarter. Bridgewater Associates LP acquired a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at $601,000. Finally, Benjamin Edwards Inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce in the third quarter valued at $525,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CM shares. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $56.16 on Friday. The stock has a fifty day moving average price of $60.03 and a 200 day moving average price of $62.05. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 year high of $67.45. The stock has a market cap of $52.79 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.62 and a beta of 1.07.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be paid a $0.6723 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.69 annualized dividend and a dividend yield of 4.79%. Canadian Imperial Bank of Commerce’s payout ratio is 48.03%.

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.