Allspring Global Investments Holdings LLC Has $14.40 Million Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 195.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 227,989 shares of the bank’s stock after purchasing an additional 150,789 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Canadian Imperial Bank of Commerce were worth $14,404,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CIBC Asset Management Inc grew its position in Canadian Imperial Bank of Commerce by 3.4% during the third quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock worth $696,659,000 after buying an additional 375,837 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Canadian Imperial Bank of Commerce by 14.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock worth $652,676,000 after purchasing an additional 1,305,665 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Canadian Imperial Bank of Commerce by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock worth $359,320,000 after purchasing an additional 334,545 shares in the last quarter. Geode Capital Management LLC boosted 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 buying an additional 336,854 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Canadian Imperial Bank of Commerce by 32.0% during the third quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock worth $228,043,000 after buying an additional 900,575 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 0.1 %

NYSE:CM opened at $62.10 on Tuesday. The company has a market cap of $58.53 billion, a PE ratio of 11.61, a P/E/G ratio of 1.64 and a beta of 1.05. The firm’s 50 day simple moving average is $63.40 and its 200 day simple moving average is $61.23. 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 one year low of $45.13 and a one year high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 27th were paid a dividend of $0.6912 per share. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. This represents a $2.76 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 51.22%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CM shares. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

About Canadian Imperial Bank of Commerce

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.