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

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

CM has been the subject of several recent analyst reports. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Thursday.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

Institutional investors have recently added to or reduced their stakes in the company. Five Oceans Advisors increased its position in shares of Canadian Imperial Bank of Commerce by 8.2% during the 4th quarter. Five Oceans Advisors now owns 4,560 shares of the bank’s stock valued at $288,000 after purchasing an additional 344 shares during the period. Mediolanum International Funds Ltd bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at about $2,935,000. Crews Bank & Trust acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $25,000. Smith Group Asset Management LLC bought a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth about $4,875,000. Finally, Blue Trust Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 132.0% in the 4th quarter. Blue Trust Inc. now owns 1,698 shares of the bank’s stock valued at $104,000 after acquiring an additional 966 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Down 0.2 %

Canadian Imperial Bank of Commerce stock opened at $63.52 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a one year low of $43.86 and a one year high of $67.45. The company has a 50-day simple moving average of $64.14 and a 200-day simple moving average of $59.81. The firm has a market capitalization of $59.86 billion, a P/E ratio of 11.87, a P/E/G ratio of 1.68 and a beta of 1.06.

Canadian Imperial Bank of Commerce Increases Dividend

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

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.