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

Fox Run Management L.L.C. increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 139.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,163 shares of the bank’s stock after buying 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CM. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 1.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,757,382 shares of the bank’s stock valued at $679,613,000 after buying an additional 115,884 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Canadian Imperial Bank of Commerce by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock valued at $359,320,000 after purchasing an additional 334,545 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 8.6% during the third quarter. Geode Capital Management LLC now owns 4,245,235 shares of the bank’s stock valued at $262,598,000 after purchasing an additional 336,854 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Canadian Imperial Bank of Commerce by 32.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock worth $228,043,000 after buying an additional 900,575 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Canadian Imperial Bank of Commerce by 23.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,187,106 shares of the bank’s stock valued at $195,561,000 after buying an additional 601,234 shares in the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Up 0.2 %

Canadian Imperial Bank of Commerce stock opened at $56.77 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of $46.50 and a 12 month high of $67.45. The stock has a fifty day simple moving average of $60.51 and a two-hundred day simple moving average of $62.13. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a market cap 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 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 given a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 48.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CM shares. Royal Bank of Canada raised 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 report on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.