Canadian Imperial Bank of Commerce (NYSE:CM) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

Separately, Royal Bank of Canada raised shares of 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 research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Trading Up 0.2 %

NYSE CM opened at $61.81 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s fifty day moving average price is $63.82 and its 200 day moving average price is $60.62. The company has a market capitalization of $58.25 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.66 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 12 month low of $43.86 and a 12 month high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were given a dividend of $0.6912 per share. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. This represents a $2.76 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 51.22%.

Institutional Trading of Canadian Imperial Bank of Commerce

Several hedge funds have recently made changes to their positions in CM. Crews Bank & Trust acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth $30,000. IFP Advisors Inc lifted its stake in shares of Canadian Imperial Bank of Commerce by 318.1% in the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after acquiring an additional 404 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth $44,000. Finally, Blue Trust Inc. lifted its stake in shares of Canadian Imperial Bank of Commerce by 571.6% in the third quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after purchasing an additional 623 shares during the period. 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.