Canadian Imperial Bank of Commerce (NYSE:CM) Receives $92.00 Average PT from Brokerages

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM has been given an average rating of "Moderate Buy" by the eight ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $92.00.

CM has been the subject of a number of research 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 target price for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com lowered 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 Stock Performance

Shares of NYSE CM traded down $0.11 during mid-day trading on Friday, reaching $62.61. 1,632,831 shares of the company's stock were exchanged, compared to its average volume of 862,763. The firm has a 50-day moving average price of $64.22 and a two-hundred day moving average price of $59.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $59.00 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.64 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.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be paid a $0.6912 dividend. The ex-dividend date is Friday, December 27th. 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 yield of 4.42%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 51.22%.

Institutional Trading of Canadian Imperial Bank of Commerce

Institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 13.5% during the 2nd quarter. American Century Companies Inc. now owns 256,164 shares of the bank's stock valued at $12,180,000 after buying an additional 30,450 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Canadian Imperial Bank of Commerce by 4.6% during the second quarter. Envestnet Asset Management Inc. now owns 794,362 shares of the bank's stock valued at $37,764,000 after purchasing an additional 34,573 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Canadian Imperial Bank of Commerce by 1,014.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 84,742 shares of the bank's stock worth $4,029,000 after purchasing an additional 77,137 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Canadian Imperial Bank of Commerce by 10.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,950,107 shares of the bank's stock valued at $140,264,000 after purchasing an additional 280,994 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Canadian Imperial Bank of Commerce by 279.6% during the 2nd quarter. Renaissance Technologies LLC now owns 154,499 shares of the bank's stock valued at $7,343,000 after buying an additional 113,800 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

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.