Canadian Imperial Bank of Commerce (NYSE:CM) Receives $92.00 Average Target Price from Analysts

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $92.00.

A number of brokerages have recently commented on CM. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Thursday.

Canadian Imperial Bank of Commerce Trading Down 0.0 %

NYSE CM opened at $63.60 on Friday. Canadian Imperial Bank of Commerce has a 52 week low of $43.86 and a 52 week 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 stock’s 50 day moving average price is $64.15 and its two-hundred day moving average price is $59.68. The stock has a market capitalization of $59.94 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.67 and a beta of 1.06.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be paid a $0.6912 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.76 dividend on an annualized basis and a yield of 4.35%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 51.22%.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

A number of institutional investors have recently bought and sold shares of CM. Crews Bank & Trust bought a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $25,000. BNP Paribas Financial Markets acquired a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at $44,000. Blue Trust Inc. boosted its position in Canadian Imperial Bank of Commerce by 571.6% during the third quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock worth $45,000 after purchasing an additional 623 shares during the period. Versant Capital Management Inc increased its holdings in shares of Canadian Imperial Bank of Commerce by 1,069.4% in 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 last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Canadian Imperial Bank of Commerce by 23.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after buying an additional 171 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

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.