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

Shares of Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM have earned a consensus rating of "Moderate Buy" from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One 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 price objective among brokerages that have issued ratings on the stock in the last year is $92.00.

Several analysts have recently commented on the stock. StockNews.com upgraded 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 shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th.

Institutional Trading of Canadian Imperial Bank of Commerce

A number of hedge funds have recently bought and sold shares of CM. Crews Bank & Trust acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $25,000. Operose Advisors LLC acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $26,000. SBI Securities Co. Ltd. acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $30,000. Sandy Spring Bank acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $32,000. Finally, IFP Advisors Inc boosted its position in Canadian Imperial Bank of Commerce by 318.1% during the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank's stock worth $34,000 after acquiring an additional 404 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock traded up $0.09 during mid-day trading on Thursday, reaching $62.10. The company had a trading volume of 546,590 shares, compared to its average volume of 1,094,838. 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 current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $58.53 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.64 and a beta of 1.05. The stock's 50-day simple moving average is $63.40 and its 200-day simple moving average is $61.17.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 27th were given a dividend of $0.6912 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.76 dividend on an annualized basis and a yield of 4.45%. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 51.22%.

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.