Fulton Bank N.A. Sells 13,383 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Fulton Bank N.A. cut its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 49.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,601 shares of the bank’s stock after selling 13,383 shares during the period. Fulton Bank N.A.’s holdings in Canadian Imperial Bank of Commerce were worth $860,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc increased its holdings in Canadian Imperial Bank of Commerce by 1,069.4% during the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock valued at $46,000 after buying an additional 663 shares during the period. JPMorgan Chase & Co. boosted its position in Canadian Imperial Bank of Commerce by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock valued at $359,320,000 after acquiring an additional 334,545 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 4.4% in the 3rd quarter. Franklin Resources Inc. now owns 880,838 shares of the bank’s stock valued at $54,606,000 after acquiring an additional 37,419 shares during the period. Hobbs Group Advisors LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 675.8% during the 3rd quarter. Hobbs Group Advisors LLC now owns 2,211 shares of the bank’s stock worth $136,000 after purchasing an additional 1,926 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in 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 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 1.2 %

CM stock opened at $63.23 on Friday. The stock has a market capitalization of $59.59 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 52 week low of $43.86 and a 52 week high of $67.45. 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 firm has a 50 day moving average of $64.40 and a 200 day moving average of $58.70.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.6912 per share. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change 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 dividend yield of 4.37%. Canadian Imperial Bank of Commerce’s payout ratio is 53.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CM shares. StockNews.com downgraded 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 shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $97.00 to $103.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and an average price target of $92.00.

Canadian Imperial Bank of Commerce Company 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.