Fourpath Capital Management LLC decreased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 54.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,811 shares of the bank's stock after selling 5,675 shares during the quarter. Fourpath Capital Management LLC's holdings in Canadian Imperial Bank of Commerce were worth $304,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of CM. Crews Bank & Trust purchased a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $25,000. BNP Paribas Financial Markets bought a new position in Canadian Imperial Bank of Commerce in the third quarter worth approximately $44,000. Versant Capital Management Inc increased its holdings in Canadian Imperial Bank of Commerce by 1,069.4% during the 4th quarter. Versant Capital Management Inc now owns 725 shares of the bank's stock worth $46,000 after purchasing an additional 663 shares during the period. Blue Trust Inc. raised its position in Canadian Imperial Bank of Commerce by 571.6% during the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank's stock valued at $45,000 after purchasing an additional 623 shares in the last quarter. Finally, City State Bank purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth $61,000. 49.88% of the stock is currently owned by hedge funds and other institutional investors.
CM stock opened at $61.68 on Wednesday. Canadian Imperial Bank of Commerce has a one year low of $43.86 and a one year high of $67.45. The firm has a market cap of $58.13 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.66 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a 50-day simple moving average of $63.94 and a two-hundred day simple moving average of $60.53.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were paid a $0.6912 dividend. This represents a $2.76 annualized dividend and a yield of 4.48%. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Friday, December 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 51.22%.
CM has been the subject of several recent research reports. StockNews.com upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Tuesday. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.00.
Read Our Latest Stock Analysis on CM
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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