Canadian Imperial Bank of Commerce (NYSE:CM) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM from a sell rating to a hold rating in a research report report published on Tuesday morning.

Separately, 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 stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $92.00.

Canadian Imperial Bank of Commerce Stock Up 0.6 %

CM stock traded up $0.40 during midday trading on Tuesday, hitting $62.30. The stock had a trading volume of 784,716 shares, compared to its average volume of 1,121,793. 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 cap of $58.71 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.66 and a beta of 1.05. The business has a 50-day moving average of $63.76 and a two-hundred day moving average of $60.63. 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 disclosed 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. This represents a $2.76 annualized dividend and a yield of 4.44%. 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 51.22%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Crews Bank & Trust purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $30,000. IFP Advisors Inc grew its stake in shares of Canadian Imperial Bank of Commerce by 318.1% in 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 period. BNP Paribas Financial Markets purchased a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at approximately $44,000. Finally, Versant Capital Management Inc lifted its position in Canadian Imperial Bank of Commerce by 1,069.4% during the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank's stock valued at $46,000 after purchasing an additional 663 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

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.