Canadian Imperial Bank of Commerce (NYSE:CM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has been given a consensus recommendation of “Moderate Buy” by the five analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $92.00.

Several brokerages recently weighed in on CM. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $97.00 to $103.00 in a 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 report on Friday, February 14th.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $58.97 on Friday. The company has a 50-day simple moving average of $59.56 and a two-hundred day simple moving average of $61.94. 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 market cap of $55.43 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.62 and a beta of 1.07. 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 Cuts Dividend

The firm 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 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is 48.03%.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

A number of large investors have recently made changes to their positions in CM. Crews Bank & Trust bought a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $25,000. Operose Advisors LLC bought a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $26,000. SBI Securities Co. Ltd. purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at $30,000. Sandy Spring Bank bought a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth $32,000. Finally, IFP Advisors Inc increased its holdings in shares of Canadian Imperial Bank of Commerce by 318.1% during the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock valued at $34,000 after acquiring an additional 404 shares in the last quarter. 49.88% of the stock is currently 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.