Canadian Imperial Bank of Commerce (NYSE:CM) Given Consensus Rating of “Moderate Buy” by Analysts

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has received an average rating of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $92.00.

CM has been the subject of a number of recent research reports. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th.

Institutional Trading of Canadian Imperial Bank of Commerce

A number of hedge funds and other institutional investors have recently modified their holdings of CM. Norges Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $570,477,000. Capital International Investors acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $424,386,000. FIL Ltd increased its position in shares of Canadian Imperial Bank of Commerce by 53.6% during the 4th quarter. FIL Ltd now owns 12,387,607 shares of the bank’s stock worth $783,613,000 after purchasing an additional 4,321,451 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Canadian Imperial Bank of Commerce by 37.3% during the 4th quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank’s stock worth $508,566,000 after purchasing an additional 2,185,262 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Canadian Imperial Bank of Commerce by 41.1% during the 4th quarter. Mackenzie Financial Corp now owns 6,835,795 shares of the bank’s stock valued at $431,952,000 after acquiring an additional 1,990,520 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Up 2.2 %

NYSE CM opened at $56.28 on Monday. The business has a fifty day moving average price of $61.11 and a 200 day moving average price of $62.21. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $52.90 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.62 and a beta of 1.07.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is 48.03%.

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.