Fourpath Capital Management LLC Reduces Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Fourpath Capital Management LLC reduced its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 54.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,811 shares of the bank’s stock after selling 5,675 shares during the period. Fourpath Capital Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CM. Five Oceans Advisors grew its stake in Canadian Imperial Bank of Commerce by 8.2% during the 4th quarter. Five Oceans Advisors now owns 4,560 shares of the bank’s stock valued at $288,000 after purchasing an additional 344 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $2,935,000. Crews Bank & Trust acquired a new position in Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $25,000. Smith Group Asset Management LLC purchased a new position in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $4,875,000. Finally, Blue Trust Inc. lifted its stake in Canadian Imperial Bank of Commerce by 132.0% during the 4th quarter. Blue Trust Inc. now owns 1,698 shares of the bank’s stock valued at $104,000 after acquiring an additional 966 shares during the period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Up 2.9 %

CM opened at $61.68 on Wednesday. The company has a fifty day moving average of $63.94 and a two-hundred day moving average of $60.53. The stock has a market capitalization of $58.13 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.66 and a beta of 1.05. Canadian Imperial Bank of Commerce has a fifty-two week low of $43.86 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.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 27th were paid a $0.6912 dividend. This represents a $2.76 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend was Friday, December 27th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s payout ratio is currently 51.22%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CM shares. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.00.

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.