Mitsubishi UFJ Trust & Banking Corp Has $30.58 Million Position in Canadian Imperial Bank of Commerce $CM

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 8.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 382,726 shares of the bank’s stock after selling 34,338 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Canadian Imperial Bank of Commerce were worth $30,584,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Brown Advisory Inc. increased its stake in shares of Canadian Imperial Bank of Commerce by 2.6% in the 2nd quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock valued at $445,000 after buying an additional 160 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 0.3% during the second quarter. Janney Montgomery Scott LLC now owns 53,477 shares of the bank’s stock valued at $3,788,000 after acquiring an additional 173 shares during the period. Pacifica Partners Inc. boosted its holdings in Canadian Imperial Bank of Commerce by 12.1% in the third quarter. Pacifica Partners Inc. now owns 1,756 shares of the bank’s stock valued at $141,000 after acquiring an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Canadian Imperial Bank of Commerce by 12.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,801 shares of the bank’s stock valued at $128,000 after acquiring an additional 193 shares during the last quarter. Finally, PDS Planning Inc increased its position in Canadian Imperial Bank of Commerce by 4.0% in the second quarter. PDS Planning Inc now owns 5,655 shares of the bank’s stock worth $401,000 after purchasing an additional 217 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CM shares. Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday. Zacks Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Raymond James Financial initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, November 25th. They set a “market perform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.50.

Canadian Imperial Bank of Commerce Stock Up 0.4%

Shares of NYSE CM opened at $92.74 on Monday. Canadian Imperial Bank of Commerce has a 52-week low of $53.62 and a 52-week high of $94.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $85.94 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.26 and a beta of 1.02. The firm has a 50 day moving average price of $90.14 and a 200 day moving average price of $82.33.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, December 4th. The bank reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 13.57% and a return on equity of 14.93%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same period last year, the business posted $1.91 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. Analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Monday, December 29th will be issued a dividend of $1.07 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 annualized dividend and a yield of 4.6%. The ex-dividend date is Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 50.25%.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.