Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has received a consensus recommendation of “Hold” from the ten research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $117.17.

CM has been the subject of a number of recent analyst reports. Canaccord Genuity set a $117.00 price target on Canadian Imperial Bank of Commerce and gave the company a “buy” rating in a research note on Thursday, August 24th. TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Wednesday, September 6th. Macquarie initiated coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $89.00 price target for the company. Citigroup cut Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 price target for the company. in a research note on Wednesday, October 25th. Finally, Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Stephens Inc. AR grew its position in shares of Canadian Imperial Bank of Commerce by 0.3% in the 2nd quarter. Stephens Inc. AR now owns 6,848 shares of the bank’s stock valued at $556,000 after purchasing an additional 19 shares during the period. Strategic Global Advisors LLC boosted its position in Canadian Imperial Bank of Commerce by 0.6% during the 2nd quarter. Strategic Global Advisors LLC now owns 4,667 shares of the bank’s stock worth $379,000 after acquiring an additional 30 shares during the last quarter. Shoker Investment Counsel Inc. boosted its position in Canadian Imperial Bank of Commerce by 3.4% during the 2nd quarter. Shoker Investment Counsel Inc. now owns 2,595 shares of the bank’s stock worth $210,000 after acquiring an additional 85 shares during the last quarter. BB&T Securities LLC boosted its position in Canadian Imperial Bank of Commerce by 0.6% during the 2nd quarter. BB&T Securities LLC now owns 17,280 shares of the bank’s stock worth $1,402,000 after acquiring an additional 106 shares during the last quarter. Finally, Bank of Hawaii boosted its position in Canadian Imperial Bank of Commerce by 2.6% during the 2nd quarter. Bank of Hawaii now owns 7,067 shares of the bank’s stock worth $574,000 after acquiring an additional 178 shares during the last quarter. Institutional investors and hedge funds own 44.76% of the company’s stock.

Shares of Canadian Imperial Bank of Commerce (NYSE CM) opened at $93.01 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $41,318.96, a PE ratio of 11.05, a PEG ratio of 4.63 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52 week low of $77.20 and a 52 week high of $96.64.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Thursday, December 28th will be given a $1.011 dividend. The ex-dividend date is Wednesday, December 27th. This represents a $4.04 annualized dividend and a dividend yield of 4.35%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 47.04%.

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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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