JPMorgan Chase & Co. Has $62.64 Million Holdings in Canadian Imperial Bank of Commerce (CM)

JPMorgan Chase & Co. grew its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 22.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 714,178 shares of the bank’s stock after acquiring an additional 130,922 shares during the period. JPMorgan Chase & Co. owned about 0.16% of Canadian Imperial Bank of Commerce worth $62,640,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its position in shares of Canadian Imperial Bank of Commerce by 55.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock worth $120,000 after purchasing an additional 526 shares during the last quarter. INR Advisory Services LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth about $125,000. Quantum Capital Management LLC NJ acquired a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth about $134,000. Nationwide Fund Advisors acquired a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth about $138,000. Finally, D.A. Davidson & CO. acquired a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth about $162,000. Institutional investors and hedge funds own 44.76% of the company’s stock.

Shares of Canadian Imperial Bank of Commerce (CM) opened at $93.01 on Thursday. Canadian Imperial Bank of Commerce has a one year low of $77.20 and a one year high of $96.64. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The firm has a market cap of $41,318.96, a P/E ratio of 11.05, a PEG ratio of 4.63 and a beta of 1.12.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Thursday, December 28th will be paid a $1.011 dividend. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $4.04 annualized dividend and a dividend yield of 4.35%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 47.04%.

A number of research firms have commented on CM. TD Securities upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Wednesday, September 6th. Canaccord Genuity set a $117.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the company a “buy” rating in a report on Thursday, August 24th. Credit Suisse Group upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $116.00 to $125.00 in a report on Friday, December 1st. Scotiabank reiterated a “hold” rating and issued a $128.00 price objective on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, November 22nd. Finally, Zacks Investment Research downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $114.00.

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Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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