Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has received an average recommendation of “Hold” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $102.43.

Several equities research analysts recently issued reports on CM shares. Zacks Investment Research cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Friday, May 5th. National Bank Financial reiterated an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 18th. BidaskClub upgraded shares of Canadian Imperial Bank of Commerce from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, Canaccord Genuity began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, July 18th. They set a “buy” rating on the stock.

A number of hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers bought a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter worth about $407,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter worth about $579,000. Koch Industries Inc. increased its stake in shares of Canadian Imperial Bank of Commerce by 11,936.0% in the second quarter. Koch Industries Inc. now owns 288,382 shares of the bank’s stock worth $285,000 after buying an additional 285,986 shares in the last quarter. Verition Fund Management LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 21.2% in the second quarter. Verition Fund Management LLC now owns 7,705 shares of the bank’s stock worth $625,000 after buying an additional 1,348 shares in the last quarter. Finally, Scotia Capital Inc. increased its stake in shares of Canadian Imperial Bank of Commerce by 10.0% in the second quarter. Scotia Capital Inc. now owns 1,142,679 shares of the bank’s stock worth $92,722,000 after buying an additional 103,558 shares in the last quarter. Institutional investors own 46.70% of the company’s stock.

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Shares of Canadian Imperial Bank of Commerce (CM) opened at 84.39 on Tuesday. The firm has a 50-day moving average price of $85.17 and a 200 day moving average price of $83.97. Canadian Imperial Bank of Commerce has a 1-year low of $72.62 and a 1-year high of $92.22. The company has a market cap of $36.79 billion, a price-to-earnings ratio of 9.74 and a beta of 1.09.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, September 28th will be issued a $1.0329 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. This represents a $4.13 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend is Wednesday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 45.25%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

Analyst Recommendations for Canadian Imperial Bank of Commerce (NYSE:CM)

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