Canadian Imperial Bank of Commerce (NYSE:CM) Stock Position Lessened by Fourpath Capital Management LLC

Fourpath Capital Management LLC decreased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 54.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 made changes to their positions in the business. Five Oceans Advisors grew its position in shares of Canadian Imperial Bank of Commerce by 8.2% during the fourth quarter. Five Oceans Advisors now owns 4,560 shares of the bank's stock worth $288,000 after acquiring an additional 344 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth $2,935,000. Crews Bank & Trust purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth $25,000. Smith Group Asset Management LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth $4,875,000. Finally, Blue Trust Inc. raised its stake in shares of 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 worth $104,000 after buying an additional 966 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock traded up $0.40 on Friday, hitting $62.30. 784,716 shares of the stock traded hands, compared to its average volume of 1,094,838. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $58.71 billion, a PE ratio of 11.64, a PEG ratio of 1.64 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 1-year low of $43.86 and a 1-year high of $67.45. The company's fifty day moving average is $63.71 and its 200 day moving average is $60.71.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 27th were given a dividend of $0.6912 per share. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. This represents a $2.76 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Friday, December 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 51.22%.

Analyst Ratings Changes

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