Mitsubishi UFJ Trust & Banking Corp Has $25.60 Million Holdings in Canadian Imperial Bank of Commerce $CM

Mitsubishi UFJ Trust & Banking Corp lowered its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 25.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 285,726 shares of the bank’s stock after selling 97,000 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Canadian Imperial Bank of Commerce were worth $25,597,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 119.7% in the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after buying an additional 219 shares during the last quarter. Lodestone Wealth Management LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth about $37,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the third quarter worth about $34,000. Guerra Advisors Inc bought a new position in shares of Canadian Imperial Bank of Commerce in the third quarter worth about $35,000. Finally, CX Institutional increased its stake in shares of Canadian Imperial Bank of Commerce by 301.1% in the third quarter. CX Institutional now owns 722 shares of the bank’s stock worth $58,000 after purchasing an additional 542 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 1.7%

Shares of CM opened at $107.72 on Thursday. Canadian Imperial Bank of Commerce has a 12-month low of $61.67 and a 12-month high of $110.91. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $98.91 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 1.14 and a beta of 1.00. The stock’s 50-day moving average price is $100.73 and its 200 day moving average price is $93.24.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a return on equity of 15.69% and a net margin of 15.15%.The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same period in the previous year, the company posted $2.20 earnings per share. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, research analysts predict that Canadian Imperial Bank of Commerce will post 7.51 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Friday, March 27th were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 45.63%.

Wall Street Analyst Weigh In

CM has been the topic of a number of recent analyst reports. Zacks Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 4th. Weiss Ratings lowered Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, April 17th. Finally, Barclays upgraded Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.50.

Canadian Imperial Bank of Commerce Company 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.