Brokerages Set Canadian Imperial Bank of Commerce (NYSE:CM) Price Target at $92.00

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have received a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $92.00.

CM has been the topic of several research reports. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Thursday.

Institutional Trading of Canadian Imperial Bank of Commerce

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Five Oceans Advisors increased its stake in Canadian Imperial Bank of Commerce by 8.2% during the fourth quarter. Five Oceans Advisors now owns 4,560 shares of the bank’s stock valued at $288,000 after purchasing an additional 344 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at about $2,935,000. Crews Bank & Trust bought a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $25,000. Smith Group Asset Management LLC acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $4,875,000. Finally, Blue Trust Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 132.0% in the fourth quarter. Blue Trust Inc. now owns 1,698 shares of the bank’s stock worth $104,000 after acquiring an additional 966 shares during the last quarter. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE:CM opened at $63.52 on Friday. The business has a 50-day moving average of $64.14 and a two-hundred day moving average of $59.81. The firm has a market capitalization of $59.86 billion, a PE ratio of 11.87, a P/E/G ratio of 1.68 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be given a dividend of $0.6912 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, December 27th. This represents a $2.76 annualized dividend and a dividend yield of 4.35%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 51.22%.

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.