82,604 Shares in Canadian Imperial Bank of Commerce $CM Purchased by Wellington Management Group LLP

Wellington Management Group LLP bought a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the second quarter, Holdings Channel reports. The firm bought 82,604 shares of the bank’s stock, valued at approximately $9,509,000.

Several other institutional investors also recently bought and sold shares of CM. Cibc World Market Inc. purchased a new stake in Canadian Imperial Bank of Commerce during the second quarter worth about $1,342,850,000. Bank of Nova Scotia purchased a new position in shares of Canadian Imperial Bank of Commerce in the second quarter valued at approximately $1,297,567,000. Norges Bank acquired a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $958,383,000. Canada Pension Plan Investment Board purchased a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter worth approximately $927,219,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter worth approximately $916,774,000. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at $116.83 on Wednesday. Canadian Imperial Bank of Commerce has a twelve month low of $77.95 and a twelve month high of $124.86. The firm’s fifty day simple moving average is $117.71 and its 200-day simple moving average is $110.04. The firm has a market capitalization of $106.64 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.19 and a beta of 1.01. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, August 27th. The bank reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.74 billion. Canadian Imperial Bank of Commerce had a net margin of 16.09% and a return on equity of 17.02%. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 7.41 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Monday, September 28th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, September 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 41.26%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 21st. Keefe, Bruyette & Woods assumed coverage on Canadian Imperial Bank of Commerce in a research note on Friday, August 21st. They issued a “market perform” rating on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Raymond James Financial restated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. Finally, Desjardins lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $167.00.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce (CIBC) is a Canadian financial institution headquartered in Toronto, Ontario. The bank provides a broad range of financial products and services to individuals, businesses, institutions and government clients.

CIBC’s principal activities include personal and commercial banking, wealth management, investment banking and capital markets services. Its offerings include deposit accounts, mortgages, consumer and business lending, credit cards, investment advice, brokerage services, asset management, and corporate finance and advisory services.

The bank serves clients primarily in Canada and the United States through its Canadian banking operations, U.S.