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

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

A number of research analysts have recently issued reports on the company. StockNews.com lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Friday, April 4th. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $54.57 on Friday. The business’s 50-day moving average price is $58.86 and its 200 day moving average price is $61.77. 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 market cap of $51.30 billion, a P/E ratio of 10.20, a P/E/G ratio of 1.62 and a beta of 0.98. Canadian Imperial Bank of Commerce has a 52-week low of $46.50 and a 52-week high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be issued a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 48.03%.

Institutional Trading of Canadian Imperial Bank of Commerce

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Crews Bank & Trust acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $25,000. Operose Advisors LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. purchased a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $30,000. Sandy Spring Bank acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth $32,000. Finally, IFP Advisors Inc boosted its position in Canadian Imperial Bank of Commerce by 318.1% during the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after purchasing an additional 404 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

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.