Sumitomo Mitsui Trust Holdings Inc. Has $102.52 Million Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,123,308 shares of the bank's stock after purchasing an additional 30,286 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.23% of Canadian Imperial Bank of Commerce worth $102,524,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 1.6% in the third quarter. Vanguard Group Inc. now owns 33,841,855 shares of the bank's stock worth $1,306,634,000 after acquiring an additional 544,942 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Canadian Imperial Bank of Commerce by 1.8% in the third quarter. Toronto Dominion Bank now owns 26,965,878 shares of the bank's stock worth $1,041,153,000 after acquiring an additional 476,342 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Canadian Imperial Bank of Commerce by 0.4% in the third quarter. CIBC Asset Management Inc now owns 10,287,048 shares of the bank's stock worth $398,310,000 after acquiring an additional 41,841 shares in the last quarter. Norges Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $305,412,000. Finally, JPMorgan Chase & Co. increased its position in shares of Canadian Imperial Bank of Commerce by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 5,252,884 shares of the bank's stock worth $222,828,000 after acquiring an additional 471,370 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Up 0.1 %

CM stock traded up $0.05 during mid-day trading on Wednesday, hitting $47.05. 1,025,955 shares of the company were exchanged, compared to its average volume of 1,831,827. The company has a market capitalization of $44.11 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 2.24 and a beta of 1.06. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. Canadian Imperial Bank of Commerce has a twelve month low of $34.35 and a twelve month high of $51.14. The firm has a fifty day simple moving average of $48.33 and a 200 day simple moving average of $44.16.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its quarterly earnings data on Thursday, February 29th. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.10. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.47 billion. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. On average, research analysts forecast that Canadian Imperial Bank of Commerce will post 5.04 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.6634 per share. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.66. This represents a $2.65 annualized dividend and a yield of 5.64%. The ex-dividend date is Wednesday, March 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 26.45%.

Wall Street Analyst Weigh In

CM has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, February 22nd. They set a "buy" rating for the company. Scotiabank raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to a "sector outperform" rating in a report on Tuesday, February 20th. National Bank Financial raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating in a report on Wednesday, December 20th. Finally, Barclays initiated coverage on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, March 20th. They set an "underweight" rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $63.00.

About Canadian Imperial Bank of Commerce

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.