Canadian Imperial Bank of Commerce $CM Holdings Decreased by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp cut its stake in Canadian Imperial Bank of Commerce by 25.3% in Q4, selling 97,000 shares and leaving it with 285,726 shares valued at about $25.6 million.
• Analysts have grown more positive recently—Barclays upgraded to "overweight" and Zacks to "strong-buy"—and MarketBeat shows a consensus rating of Moderate Buy with an average target price of $107.50.
• CIBC beat quarterly expectations with $1.99 EPS and $6.16 billion revenue, declared a $1.07 quarterly dividend (annualized $4.28, ~4.0% yield), and trades at a P/E of 15.7 with a market cap near $98.9 billion.

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 25.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank's stock valued at $32,000 after buying an additional 219 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new stake in Canadian Imperial Bank of Commerce during the third quarter valued at $34,000. Guerra Advisors Inc acquired a new stake in Canadian Imperial Bank of Commerce during the third quarter valued at $35,000. Lodestone Wealth Management LLC acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter valued at $37,000. Finally, CX Institutional boosted its position in Canadian Imperial Bank of Commerce by 301.1% during the third quarter. CX Institutional now owns 722 shares of the bank's stock valued at $58,000 after purchasing an additional 542 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CM. Barclays raised Canadian Imperial Bank of Commerce from an "underweight" rating to an "overweight" rating in a research report on Thursday, February 19th. Zacks Research raised Canadian Imperial Bank of Commerce from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings cut Canadian Imperial Bank of Commerce from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $107.50.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $107.72 on Thursday. The stock has a market cap of $98.91 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.14 and a beta of 1.00. Canadian Imperial Bank of Commerce has a 1 year low of $61.67 and a 1 year high of $110.91. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $100.73 and a 200 day moving average price of $93.24.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its quarterly earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $5.53 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The business's quarterly revenue was up 15.3% compared to the same quarter last year. Analysts forecast that Canadian Imperial Bank of Commerce will post 7.51 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Friday, March 27th were given a $1.07 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.0%. Canadian Imperial Bank of Commerce's payout ratio is currently 45.63%.

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.

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