JPMorgan Chase & Co. Has $359.32 Million Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

JPMorgan Chase & Co. raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 6.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,857,844 shares of the bank’s stock after purchasing an additional 334,545 shares during the period. JPMorgan Chase & Co. owned 0.62% of Canadian Imperial Bank of Commerce worth $359,320,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CM. Massmutual Trust Co. FSB ADV lifted its position in shares of Canadian Imperial Bank of Commerce by 23.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after purchasing an additional 171 shares during the last quarter. PDS Planning Inc grew its stake in shares of Canadian Imperial Bank of Commerce by 4.7% in the third quarter. PDS Planning Inc now owns 4,978 shares of the bank’s stock worth $305,000 after acquiring an additional 224 shares during the last quarter. MML Investors Services LLC raised its stake in Canadian Imperial Bank of Commerce by 0.5% during the 3rd quarter. MML Investors Services LLC now owns 44,008 shares of the bank’s stock valued at $2,699,000 after purchasing an additional 237 shares during the last quarter. Prospera Private Wealth LLC boosted its holdings in Canadian Imperial Bank of Commerce by 3.2% in the 3rd quarter. Prospera Private Wealth LLC now owns 10,486 shares of the bank’s stock valued at $643,000 after purchasing an additional 330 shares during the period. Finally, First Bank & Trust increased its holdings in shares of Canadian Imperial Bank of Commerce by 0.8% during the 3rd quarter. First Bank & Trust now owns 41,646 shares of the bank’s stock worth $2,555,000 after purchasing an additional 351 shares during the period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $97.00 target price (up from $74.00) on shares of Canadian Imperial Bank of Commerce in a research report on Friday, December 6th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $89.00.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM opened at $62.89 on Monday. 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 firm has a market cap of $59.41 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 12 month low of $43.86 and a 12 month high of $67.45. The company’s 50-day moving average price is $64.37 and its two-hundred day moving average price is $57.88.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be issued a dividend of $0.6912 per share. This represents a $2.76 dividend on an annualized basis and a yield of 4.40%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 53.46%.

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.