Korea Investment CORP Has $44 Million Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Korea Investment CORP boosted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 14.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 695,902 shares of the bank’s stock after buying an additional 89,158 shares during the quarter. Korea Investment CORP owned about 0.07% of Canadian Imperial Bank of Commerce worth $43,998,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 39,385,238 shares of the bank’s stock worth $2,491,431,000 after acquiring an additional 749,843 shares in the last quarter. TD Asset Management Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 3.7% in the 4th quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank’s stock worth $1,492,138,000 after purchasing an additional 851,164 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Canadian Imperial Bank of Commerce by 1.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,757,382 shares of the bank’s stock worth $679,613,000 after purchasing an additional 115,884 shares during the period. JPMorgan Chase & Co. grew its holdings in Canadian Imperial Bank of Commerce by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock valued at $359,320,000 after purchasing an additional 334,545 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Canadian Imperial Bank of Commerce by 8.6% in the third quarter. Geode Capital Management LLC now owns 4,245,235 shares of the bank’s stock valued at $262,598,000 after purchasing an additional 336,854 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CM shares. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, February 14th. 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 company from $97.00 to $103.00 in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM opened at $57.33 on Friday. 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 $46.50 and a one year high of $67.45. The company has a fifty day moving average price of $60.15 and a 200 day moving average price of $62.07. The stock has a market cap of $53.89 billion, a P/E ratio of 10.71, a PEG ratio of 1.62 and a beta of 1.07.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be given a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 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.