Mitsubishi UFJ Trust & Banking Corp Boosts Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Mitsubishi UFJ Trust & Banking Corp raised its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 571,664 shares of the bank’s stock after acquiring an additional 18,100 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Canadian Imperial Bank of Commerce were worth $36,223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. TD Asset Management Inc. grew its holdings in shares of Canadian Imperial Bank of Commerce by 3.7% during the fourth quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank’s stock worth $1,492,138,000 after purchasing an additional 851,164 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 16.1% in the 4th quarter. Prudential Financial Inc. now owns 37,295 shares of the bank’s stock valued at $2,358,000 after purchasing an additional 5,185 shares during the period. Vanguard Group Inc. grew its stake in Canadian Imperial Bank of Commerce by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 39,385,238 shares of the bank’s stock worth $2,491,431,000 after buying an additional 749,843 shares during the last quarter. Guardian Partners Inc. acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $21,341,000. Finally, Fox Run Management L.L.C. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 139.2% in the fourth quarter. Fox Run Management L.L.C. now owns 14,163 shares of the bank’s stock valued at $896,000 after acquiring an additional 8,243 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM opened at $58.12 on Thursday. The stock has a fifty day moving average price of $60.26 and a 200 day moving average price of $62.10. Canadian Imperial Bank of Commerce has a 1-year low of $46.50 and a 1-year high of $67.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $54.63 billion, a PE ratio of 10.86, a P/E/G ratio of 1.62 and a beta of 1.07.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a $0.6723 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.63%. Canadian Imperial Bank of Commerce’s payout ratio is currently 48.03%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

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.