Canadian Imperial Bank of Commerce (NYSE:CM) Sees Large Volume Increase - What's Next?

Shares of Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM saw strong trading volume on Monday . 917,327 shares traded hands during mid-day trading, a decline of 15% from the previous session's volume of 1,075,045 shares.The stock last traded at $59.51 and had previously closed at $63.02.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CM shares. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Tuesday. Royal Bank of Canada raised 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 report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Trading Up 0.2 %

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 market capitalization of $58.25 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.66 and a beta of 1.05. The firm has a 50-day moving average price of $63.82 and a 200-day moving average price of $60.62.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were issued a $0.6912 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 4.47%. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Friday, December 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 51.22%.

Institutional Trading of Canadian Imperial Bank of Commerce

A number of large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 4.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock worth $255,000 after buying an additional 194 shares during the period. PDS Planning Inc boosted 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 worth $305,000 after buying an additional 224 shares during the period. MML Investors Services LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 0.5% during the third quarter. MML Investors Services LLC now owns 44,008 shares of the bank's stock valued at $2,699,000 after buying an additional 237 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Canadian Imperial Bank of Commerce by 27.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank's stock valued at $73,000 after buying an additional 250 shares during the period. Finally, Fifth Third Bancorp lifted its stake in Canadian Imperial Bank of Commerce by 5.7% in the 4th quarter. Fifth Third Bancorp now owns 4,971 shares of the bank's stock worth $314,000 after acquiring an additional 270 shares in the last quarter. 49.88% of the stock is currently owned by 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.