JPMorgan Chase & Co. Has $375.42 Million Stake in Canadian Imperial Bank of Commerce $CM

JPMorgan Chase & Co. trimmed its position in shares of Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM) by 52.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,143,191 shares of the bank’s stock after selling 4,633,901 shares during the quarter. JPMorgan Chase & Co.’s holdings in Canadian Imperial Bank of Commerce were worth $375,415,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC raised its position in shares of Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after purchasing an additional 219 shares during the period. Lodestone Wealth Management LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $37,000. Smartleaf Asset Management LLC raised its position in shares of Canadian Imperial Bank of Commerce by 128.1% during the third quarter. Smartleaf Asset Management LLC now owns 723 shares of the bank’s stock worth $58,000 after purchasing an additional 406 shares during the period. Aventura Private Wealth LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $69,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in shares of Canadian Imperial Bank of Commerce by 87.0% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after purchasing an additional 400 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Scotiabank lowered Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Monday, June 1st. Raymond James Financial restated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Barclays restated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Weiss Ratings cut Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 4th. Finally, Zacks Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $167.00.

Check Out Our Latest Analysis on Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $110.18 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $108.17 and its two-hundred day simple moving average is $98.83. Canadian Imperial Bank of Commerce has a 1-year low of $67.46 and a 1-year high of $117.05. The stock has a market cap of $100.58 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.19 and a beta of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CMGet Free Report) (TSE:CM) last issued its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The business had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.86 billion. During the same period last year, the business earned $2.05 EPS. The business’s revenue was up 14.0% on a year-over-year basis. As a group, analysts forecast that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 annualized dividend and a dividend yield of 3.9%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 43.13%.

Canadian Imperial Bank of Commerce Profile

(Free Report)

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.

Further Reading

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

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