Canadian Imperial Bank of Commerce (NYSE:CM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have earned an average rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $92.00.

CM has been the topic of several analyst reports. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, February 14th. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th.

Canadian Imperial Bank of Commerce Stock Down 0.2 %

Canadian Imperial Bank of Commerce stock opened at $56.70 on Monday. The firm has a market cap of $53.43 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 52 week low of $46.50 and a 52 week high of $67.45. The business’s 50-day moving average price is $61.85 and its 200 day moving average price is $62.16. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be issued a $0.6723 dividend. This represents a $2.69 annualized dividend and a yield of 4.74%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is currently 48.03%.

Institutional Trading of Canadian Imperial Bank of Commerce

Institutional investors have recently bought and sold shares of the business. Crews Bank & Trust acquired a new stake in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $25,000. Operose Advisors LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $30,000. Sandy Spring Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $32,000. Finally, IFP Advisors Inc boosted its stake in shares of Canadian Imperial Bank of Commerce by 318.1% in the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after acquiring an additional 404 shares during the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

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.