Canadian Imperial Bank of Commerce (NYSE:CM) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 21.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 210,127 shares of the bank's stock after acquiring an additional 37,015 shares during the quarter. Wellington Management Group LLP's holdings in Canadian Imperial Bank of Commerce were worth $13,285,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CM. Norges Bank bought a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at about $570,477,000. JPMorgan Chase & Co. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 37.3% during the 4th quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank's stock valued at $508,566,000 after buying an additional 2,185,262 shares in the last quarter. TD Asset Management Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 3.7% during the fourth quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank's stock valued at $1,492,138,000 after purchasing an additional 851,164 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 1.9% in the fourth 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 during the last quarter. Finally, Alberta Investment Management Corp increased its position in shares of Canadian Imperial Bank of Commerce by 74.4% during the fourth quarter. Alberta Investment Management Corp now owns 1,572,963 shares of the bank's stock valued at $99,450,000 after acquiring an additional 671,028 shares in the last quarter. Institutional investors own 49.88% of the company's stock.

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Analysts Set New Price Targets

CM has been the topic of several recent research reports. StockNews.com raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Monday. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their price objective 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.00.

Canadian Imperial Bank of Commerce Trading Up 0.8 %

Shares of NYSE:CM traded up $0.49 during mid-day trading on Tuesday, reaching $58.67. 166,166 shares of the company were exchanged, compared to its average volume of 1,148,457. The firm has a market cap of $55.16 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 1.62 and a beta of 0.98. 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 1 year low of $46.50 and a 1 year high of $67.45. The firm's 50-day simple moving average is $58.38 and its 200 day simple moving average is $61.62.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be paid a $0.6723 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.58%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 48.03%.

Canadian Imperial Bank of Commerce Company 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.