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

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has been given an average recommendation of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $92.00.

Several research analysts recently commented on CM shares. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, February 14th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at $56.28 on Monday. Canadian Imperial Bank of Commerce has a 12 month low of $46.50 and a 12 month high of $67.45. The firm has a fifty day simple moving average of $61.11 and a 200 day simple moving average of $62.10. The stock has a market capitalization of $53.03 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.62 and a beta of 1.07. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a dividend of $0.6723 per share. This represents a $2.69 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 48.03%.

Institutional Trading of Canadian Imperial Bank of Commerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crews Bank & Trust bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth $25,000. Operose Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at about $26,000. SBI Securities Co. Ltd. bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at about $30,000. Sandy Spring Bank bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at about $32,000. Finally, IFP Advisors Inc raised its position 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 valued at $34,000 after purchasing an additional 404 shares during the period. 49.88% of the stock is owned by 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.