Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 571,664 shares of the bank's stock after purchasing an additional 18,100 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Canadian Imperial Bank of Commerce worth $36,223,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Crews Bank & Trust purchased a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $30,000. Sandy Spring Bank purchased a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at about $32,000. IFP Advisors Inc raised its stake in Canadian Imperial Bank of Commerce by 318.1% in the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank's stock worth $34,000 after buying an additional 404 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Canadian Imperial Bank of Commerce in the third quarter worth about $44,000. 49.88% of the stock is owned by institutional investors.
Canadian Imperial Bank of Commerce Stock Up 0.2 %
Shares of NYSE CM traded up $0.11 on Monday, reaching $56.27. 950,740 shares of the company's stock traded hands, compared to its average volume of 1,146,009. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The business's 50 day simple moving average is $59.90 and its two-hundred day simple moving average is $62.03. Canadian Imperial Bank of Commerce has a 12 month low of $46.50 and a 12 month high of $67.45. The company has a market cap of $52.89 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07.
Canadian Imperial Bank of Commerce Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce's payout ratio is 48.03%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of "Moderate Buy" and a consensus price target of $92.00.
Check Out Our Latest Report on CM
About Canadian Imperial Bank of Commerce
(
Free Report)
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.
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