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

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,123,308 shares of the bank’s stock after buying an additional 30,286 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $102,524,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CM. Bruce G. Allen Investments LLC acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $33,000. Janiczek Wealth Management LLC raised its position in shares of Canadian Imperial Bank of Commerce by 34.9% during the fourth quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock worth $41,000 after purchasing an additional 222 shares during the period. NewEdge Advisors LLC raised its position in shares of Canadian Imperial Bank of Commerce by 277.9% during the first quarter. NewEdge Advisors LLC now owns 1,126 shares of the bank’s stock worth $48,000 after purchasing an additional 828 shares during the period. CENTRAL TRUST Co raised its position in shares of Canadian Imperial Bank of Commerce by 77.8% during the third quarter. CENTRAL TRUST Co now owns 1,600 shares of the bank’s stock worth $70,000 after purchasing an additional 700 shares during the period. Finally, Advisors Asset Management Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 22.7% during the third quarter. Advisors Asset Management Inc. now owns 2,420 shares of the bank’s stock worth $93,000 after purchasing an additional 448 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Down 1.5 %

Shares of NYSE:CM opened at $47.00 on Wednesday. The company has a market capitalization of $44.06 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 2.25 and a beta of 1.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. The business has a fifty day moving average price of $48.28 and a two-hundred day moving average price of $44.14. Canadian Imperial Bank of Commerce has a 1 year low of $34.35 and a 1 year high of $51.14.

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

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be issued a $0.6634 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $2.65 annualized dividend and a dividend yield of 5.65%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 26.45%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CM shares. Jefferies Financial Group started coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. National Bank Financial raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, December 20th. Scotiabank raised Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, February 20th. Finally, Barclays assumed coverage on Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They set an “underweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Canadian Imperial Bank of Commerce 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.