Canadian Imperial Bank of Commerce (NYSE:CM) Receives $89.00 Consensus Price Target from Analysts

Shares of Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM have been assigned an average rating of "Moderate Buy" from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $89.00.

Several brokerages have weighed in on CM. BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an "outperform" rating in a research report on Friday, August 30th. Bank of America raised Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a report on Friday, August 30th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $97.00 price objective (up previously from $74.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, December 6th. Finally, Cormark upgraded shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 30th.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock traded up $0.09 during trading hours on Wednesday, hitting $64.37. The company's stock had a trading volume of 3,326,451 shares, compared to its average volume of 1,361,226. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $64.29 and a 200 day moving average of $57.55. Canadian Imperial Bank of Commerce has a 12-month low of $43.86 and a 12-month high of $67.45. The stock has a market cap of $60.80 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be issued a $0.6912 dividend. This represents a $2.76 annualized dividend and a yield of 4.29%. The ex-dividend date is Friday, December 27th. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce's payout ratio is presently 53.46%.

Institutional Trading of Canadian Imperial Bank of Commerce

A number of institutional investors and hedge funds have recently modified their holdings of CM. Massmutual Trust Co. FSB ADV raised its stake in Canadian Imperial Bank of Commerce by 23.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank's stock valued at $56,000 after purchasing an additional 171 shares during the last quarter. PDS Planning Inc raised its position in shares of Canadian Imperial Bank of Commerce by 4.7% in the third quarter. PDS Planning Inc now owns 4,978 shares of the bank's stock valued at $305,000 after buying an additional 224 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 0.5% in the third quarter. MML Investors Services LLC now owns 44,008 shares of the bank's stock worth $2,699,000 after buying an additional 237 shares in the last quarter. Prospera Private Wealth LLC boosted its position in Canadian Imperial Bank of Commerce by 3.2% during the third quarter. Prospera Private Wealth LLC now owns 10,486 shares of the bank's stock worth $643,000 after acquiring an additional 330 shares during the last quarter. Finally, First Bank & Trust grew its stake in Canadian Imperial Bank of Commerce by 0.8% during the 3rd quarter. First Bank & Trust now owns 41,646 shares of the bank's stock valued at $2,555,000 after acquiring an additional 351 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.