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

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $92.00.

CM has been the topic of a number of recent analyst reports. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Monday, January 6th.

Canadian Imperial Bank of Commerce Trading Down 0.2 %

Shares of CM stock opened at $62.61 on Friday. The firm’s 50-day simple moving average is $64.22 and its 200-day simple moving average is $59.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 1-year low of $43.86 and a 1-year high of $67.45. The firm has a market cap of $59.00 billion, a P/E ratio of 11.70, a PEG ratio of 1.64 and a beta of 1.06.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be given a dividend of $0.6912 per share. This is a boost 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 4.42%. The ex-dividend date of this dividend is Friday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 51.22%.

Institutional Trading of Canadian Imperial Bank of Commerce

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank grew its position in shares of Canadian Imperial Bank of Commerce by 17.9% during the second quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock worth $1,233,272,000 after buying an additional 3,942,894 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Canadian Imperial Bank of Commerce by 61.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,030,130 shares of the bank’s stock worth $334,321,000 after acquiring an additional 2,681,428 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Canadian Imperial Bank of Commerce by 14.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock worth $652,676,000 after purchasing an additional 1,305,665 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $62,849,000. Finally, Public Sector Pension Investment Board lifted its position in shares of Canadian Imperial Bank of Commerce by 32.0% during the third quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock worth $228,043,000 after purchasing an additional 900,575 shares during the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

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.