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

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $92.00.

A number of research firms recently issued reports on CM. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th.

Canadian Imperial Bank of Commerce Stock Up 0.1 %

CM opened at $62.10 on Thursday. The firm has a 50 day moving average price of $63.40 and a 200 day moving average price of $61.23. The company has a market cap of $58.53 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.64 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 1 year low of $45.13 and a 1 year high of $67.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were paid 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 annualized dividend and a dividend yield of 4.45%. The ex-dividend date was Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 51.22%.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Institutional investors and hedge funds have recently made changes to their positions in the business. Crews Bank & Trust purchased a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $25,000. Operose Advisors LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $30,000. Sandy Spring Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $32,000. Finally, IFP Advisors Inc raised its position in shares of Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock valued at $34,000 after acquiring an additional 404 shares in the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

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.