Invesco Ltd. Sells 50,297 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Invesco Ltd. reduced its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,404,052 shares of the bank's stock after selling 50,297 shares during the quarter. Invesco Ltd. owned approximately 0.26% of Canadian Imperial Bank of Commerce worth $152,008,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Canadian Imperial Bank of Commerce by 31.3% during the 4th quarter. Geode Capital Management LLC now owns 5,573,202 shares of the bank's stock valued at $357,480,000 after purchasing an additional 1,327,967 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 11.0% during the 4th quarter. Franklin Resources Inc. now owns 978,161 shares of the bank's stock valued at $61,797,000 after acquiring an additional 97,323 shares during the period. Wellington Management Group LLP lifted its stake in Canadian Imperial Bank of Commerce by 21.4% in the fourth quarter. Wellington Management Group LLP now owns 210,127 shares of the bank's stock valued at $13,285,000 after purchasing an additional 37,015 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Canadian Imperial Bank of Commerce by 2.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 216,786 shares of the bank's stock worth $13,698,000 after buying an additional 4,269 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 6.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,921 shares of the bank's stock valued at $1,070,000 after buying an additional 986 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

NYSE CM traded up $0.17 during trading on Friday, reaching $58.94. The company's stock had a trading volume of 588,465 shares, compared to its average volume of 1,144,478. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a fifty day moving average of $58.19 and a 200 day moving average of $61.56. The stock has a market capitalization of $55.41 billion, a PE ratio of 11.02, a P/E/G ratio of 1.62 and a beta of 0.98. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45.

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 issued a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 48.03%.

Analysts Set New Price Targets

Several research firms have commented on CM. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Monday. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of "Moderate Buy" and a consensus target price of $92.00.

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.