Fox Run Management L.L.C. Has $896,000 Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Fox Run Management L.L.C. grew its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 139.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,163 shares of the bank's stock after purchasing an additional 8,243 shares during the period. Fox Run Management L.L.C.'s holdings in Canadian Imperial Bank of Commerce were worth $896,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CM. Hillsdale Investment Management Inc. grew its stake in Canadian Imperial Bank of Commerce by 138.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 962,026 shares of the bank's stock valued at $60,788,000 after acquiring an additional 557,820 shares in the last quarter. American Century Companies Inc. grew its stake in Canadian Imperial Bank of Commerce by 8.5% in the fourth quarter. American Century Companies Inc. now owns 299,211 shares of the bank's stock valued at $18,927,000 after purchasing an additional 23,403 shares in the last quarter. Summit Global Investments acquired a new position in Canadian Imperial Bank of Commerce in the 4th quarter worth about $1,449,000. Lee Danner & Bass Inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $44,000. Finally, Sandy Spring Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 49.88% of the company's stock.

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Analyst Ratings Changes

Several research firms have commented on CM. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock traded down $0.76 on Thursday, reaching $57.33. The company's stock had a trading volume of 1,367,135 shares, compared to its average volume of 1,081,505. The business's fifty day moving average price is $60.26 and its 200 day moving average price is $62.10. 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 market cap of $53.89 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 1.62 and a beta of 1.07. Canadian Imperial Bank of Commerce has a twelve month low of $46.50 and a twelve month high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a $0.6723 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.69%. Canadian Imperial Bank of Commerce's payout ratio is 48.03%.

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.