Canadian Imperial Bank of Commerce (NYSE:CM) Receives $92.00 Consensus PT from Analysts

Shares of Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM have received a consensus rating of "Moderate Buy" from the six analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $92.00.

Several equities research analysts have recently issued reports on CM shares. 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 objective for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Friday, February 14th.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Several institutional investors and hedge funds have recently made changes to their positions in CM. Mackenzie Financial Corp raised its stake in Canadian Imperial Bank of Commerce by 41.1% during the fourth quarter. Mackenzie Financial Corp now owns 6,835,795 shares of the bank's stock worth $431,952,000 after acquiring an additional 1,990,520 shares during the period. Forum Financial Management LP raised its holdings in shares of Canadian Imperial Bank of Commerce by 22.7% during the fourth quarter. Forum Financial Management LP now owns 6,499 shares of the bank's stock valued at $411,000 after buying an additional 1,203 shares during the last quarter. Vise Technologies Inc. raised its holdings in shares of Canadian Imperial Bank of Commerce by 30.0% during the fourth quarter. Vise Technologies Inc. now owns 19,805 shares of the bank's stock valued at $1,252,000 after buying an additional 4,566 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 2.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,179,347 shares of the bank's stock worth $74,570,000 after buying an additional 32,036 shares during the period. Finally, Toronto Dominion Bank grew its holdings in Canadian Imperial Bank of Commerce by 1.1% in the 4th quarter. Toronto Dominion Bank now owns 22,138,015 shares of the bank's stock worth $1,398,619,000 after buying an additional 234,088 shares in the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

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Canadian Imperial Bank of Commerce Trading Down 1.5 %

Shares of NYSE CM traded down $0.83 during midday trading on Monday, hitting $55.11. The stock had a trading volume of 462,011 shares, compared to its average volume of 1,102,987. 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 has a 1-year low of $46.50 and a 1-year high of $67.45. The company has a market capitalization of $51.93 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 1.62 and a beta of 1.07. The company has a fifty day moving average price of $61.39 and a 200 day moving average price of $62.14.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be given a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's payout ratio is 48.03%.

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.