Canadian Imperial Bank of Commerce (NYSE:CM) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) from a sell rating to a hold rating in a research note issued to investors on Friday.

Separately, Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM opened at $62.10 on Friday. The business’s 50 day moving average price is $63.40 and its 200 day moving average price is $61.17. The firm has a market cap 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. Canadian Imperial Bank of Commerce has a 52 week low of $45.13 and a 52 week high of $67.45. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were paid a $0.6912 dividend. The ex-dividend date was Friday, December 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.45%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 51.21%.

Institutional Trading of Canadian Imperial Bank of Commerce

Hedge funds and other institutional investors have recently modified their holdings of the stock. Crews Bank & Trust acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $25,000. Operose Advisors LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $30,000. Sandy Spring Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $32,000. Finally, IFP Advisors Inc increased its position in shares of Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after purchasing an additional 404 shares during the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

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.