Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. decreased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 49.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,601 shares of the bank's stock after selling 13,383 shares during the quarter. Fulton Bank N.A.'s holdings in Canadian Imperial Bank of Commerce were worth $860,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Savant Capital LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 5.5% during the 2nd quarter. Savant Capital LLC now owns 10,599 shares of the bank's stock worth $504,000 after acquiring an additional 549 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 34.6% in the 2nd quarter. Acadian Asset Management LLC now owns 42,800 shares of the bank's stock valued at $2,032,000 after purchasing an additional 11,000 shares during the last quarter. Andra AP fonden purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $4,516,000. AGF Management Ltd. grew its stake in shares of Canadian Imperial Bank of Commerce by 210.2% during the 2nd quarter. AGF Management Ltd. now owns 82,705 shares of the bank's stock valued at $4,232,000 after buying an additional 56,046 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 13.5% in the 2nd quarter. American Century Companies Inc. now owns 256,164 shares of the bank's stock worth $12,180,000 after buying an additional 30,450 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Performance

CM stock traded down $0.99 during trading on Friday, hitting $62.06. 974,594 shares of the company's stock traded hands, compared to its average volume of 1,056,466. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $64.40 and a two-hundred day moving average price of $58.70. Canadian Imperial Bank of Commerce has a 52 week low of $43.86 and a 52 week high of $67.45. The stock has a market capitalization of $58.49 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a dividend of $0.6912 per share. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. This represents a $2.76 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Friday, December 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 51.21%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Monday. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $97.00 to $103.00 in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $92.00.

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.