Invesco Ltd. Increases Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Key Points

• Invesco Ltd. increased its stake in Canadian Imperial Bank of Commerce by 12.5%, owning 2,704,251 shares worth approximately $152.25 million as of its latest SEC filing.
• Canadian Imperial Bank of Commerce recently reported earnings of $1.44 per share, surpassing analyst expectations of $1.34, along with a significant revenue increase of 13.9% year-over-year.
• The bank declared a quarterly dividend of $0.7024 per share, raising its yield to 3.8%, compared to the prior amount of $0.67 per share.

Invesco Ltd. grew its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 12.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,704,251 shares of the bank's stock after purchasing an additional 300,199 shares during the period. Invesco Ltd. owned approximately 0.29% of Canadian Imperial Bank of Commerce worth $152,249,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. HM Payson & Co. purchased a new stake in Canadian Imperial Bank of Commerce in the 1st quarter valued at about $29,000. TruNorth Capital Management LLC increased its stake in Canadian Imperial Bank of Commerce by 156.0% in the 1st quarter. TruNorth Capital Management LLC now owns 512 shares of the bank's stock valued at $29,000 after buying an additional 312 shares during the last quarter. Private Trust Co. NA increased its stake in Canadian Imperial Bank of Commerce by 40.0% in the 1st quarter. Private Trust Co. NA now owns 781 shares of the bank's stock valued at $44,000 after buying an additional 223 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Canadian Imperial Bank of Commerce by 51.1% in the 1st quarter. Farther Finance Advisors LLC now owns 902 shares of the bank's stock valued at $51,000 after buying an additional 305 shares during the last quarter. Finally, NBC Securities Inc. increased its stake in Canadian Imperial Bank of Commerce by 121,800.0% in the 1st quarter. NBC Securities Inc. now owns 1,219 shares of the bank's stock valued at $68,000 after buying an additional 1,218 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

Wall Street Analyst Weigh In

CM has been the subject of a number of research reports. Scotiabank initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a "sector outperform" rating for the company. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Royal Bank Of Canada increased their target price on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Jefferies Financial Group downgraded shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Finally, National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $109.00.

Canadian Imperial Bank of Commerce Trading Down 0.0%

Canadian Imperial Bank of Commerce stock traded down $0.01 during trading hours on Friday, reaching $73.82. The stock had a trading volume of 943,475 shares, compared to its average volume of 1,369,016. The stock has a market cap of $68.61 billion, a PE ratio of 12.97, a PEG ratio of 1.60 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 52 week low of $51.55 and a 52 week high of $74.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. The company has a fifty day simple moving average of $71.58 and a 200-day simple moving average of $64.71.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its quarterly earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 12.19% and a return on equity of 14.51%. The company had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter in the previous year, the company earned $1.75 earnings per share. Canadian Imperial Bank of Commerce's quarterly revenue was up 13.9% on a year-over-year basis. Analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Friday, June 27th were issued a dividend of $0.7024 per share. The ex-dividend date was Friday, June 27th. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.8%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 49.56%.

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.