Fox Run Management L.L.C. Purchases 8,243 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Fox Run Management L.L.C. boosted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 139.2% in the fourth quarter, Holdings Channel reports. The fund owned 14,163 shares of the bank’s stock after purchasing an additional 8,243 shares during the quarter. Fox Run Management L.L.C.’s holdings in Canadian Imperial Bank of Commerce were worth $896,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hillsdale Investment Management Inc. lifted its stake in shares of Canadian Imperial Bank of Commerce by 138.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 962,026 shares of the bank’s stock worth $60,788,000 after purchasing an additional 557,820 shares during the period. American Century Companies Inc. increased its holdings in Canadian Imperial Bank of Commerce by 8.5% during the fourth quarter. American Century Companies Inc. now owns 299,211 shares of the bank’s stock valued at $18,927,000 after buying an additional 23,403 shares during the last quarter. Summit Global Investments bought a new position in Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $1,449,000. Lee Danner & Bass Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth $44,000. Finally, Sandy Spring Bank bought a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at $32,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CM has been the topic of several analyst reports. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

CM opened at $56.77 on Friday. The stock has a market capitalization of $53.36 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 1.62 and a beta of 1.07. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.50 and a fifty-two week high of $67.45. 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 company has a fifty day moving average of $60.51 and a 200 day moving average of $62.13.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be issued a $0.6723 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 annualized dividend and a dividend yield of 4.74%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 48.03%.

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.