Wellington Management Group LLP Has $13.29 Million Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Wellington Management Group LLP raised its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 21.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 210,127 shares of the bank's stock after purchasing an additional 37,015 shares during the period. 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.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at $570,477,000. Capital International Investors acquired a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at about $424,386,000. FIL Ltd increased its position in Canadian Imperial Bank of Commerce by 53.6% during the fourth quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock worth $783,613,000 after acquiring an additional 4,321,451 shares during the period. JPMorgan Chase & Co. raised its stake in Canadian Imperial Bank of Commerce by 37.3% in the 4th quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank's stock worth $508,566,000 after purchasing an additional 2,185,262 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Canadian Imperial Bank of Commerce by 41.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,835,795 shares of the bank's stock valued at $431,952,000 after purchasing an additional 1,990,520 shares during the period. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

NYSE CM traded up $0.16 on Wednesday, hitting $67.85. 984,789 shares of the company's stock were exchanged, compared to its average volume of 1,125,411. The stock has a 50-day moving average of $61.97 and a 200-day moving average of $62.04. The stock has a market cap of $63.79 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.62 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 52 week low of $46.99 and a 52 week high of $69.88. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14.

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. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.78 billion. Canadian Imperial Bank of Commerce had a net margin of 11.10% and a return on equity of 14.01%. The firm's revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.75 EPS. Analysts expect that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.7024 per share. The ex-dividend date of this dividend is Friday, June 27th. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. This represents a $2.81 annualized dividend and a dividend yield of 4.14%. Canadian Imperial Bank of Commerce's dividend payout ratio is 49.56%.

Wall Street Analyst Weigh In

CM has been the topic of a number of analyst reports. Scotiabank began coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. BMO Capital Markets raised their price objective on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Royal Bank of Canada lifted their price objective on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Finally, Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $109.00.

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.