Analysts Set Canadian Imperial Bank of Commerce (NYSE:CM) PT at $92.00

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has been given an average rating of “Moderate Buy” by the six brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $92.00.

Several research firms recently issued reports on CM. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. StockNews.com lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Monday, April 21st.

Canadian Imperial Bank of Commerce Trading Up 0.2 %

Shares of CM opened at $63.10 on Tuesday. The stock has a market capitalization of $59.32 billion, a P/E ratio of 11.79, a PEG ratio of 1.62 and a beta of 0.98. Canadian Imperial Bank of Commerce has a twelve month low of $46.83 and a twelve month high of $67.45. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $58.04 and a two-hundred day simple moving average of $61.60.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, March 28th were issued a $0.6723 dividend. This represents a $2.69 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 48.03%.

Institutional Trading of Canadian Imperial Bank of Commerce

Several institutional investors have recently bought and sold shares of the company. Crews Bank & Trust bought a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth $25,000. Operose Advisors LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $26,000. HM Payson & Co. bought a new position in Canadian Imperial Bank of Commerce during the first quarter valued at approximately $29,000. TruNorth Capital Management LLC boosted its holdings in Canadian Imperial Bank of Commerce by 156.0% in the first quarter. TruNorth Capital Management LLC now owns 512 shares of the bank’s stock worth $29,000 after purchasing an additional 312 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $30,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

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.