Canadian Imperial Bank of Commerce (NYSE:CM) Upgraded by StockNews.com to Hold Rating

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 report sent to investors on Friday morning.

Separately, Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Stock Up 0.1 %

Shares of NYSE CM opened at $62.10 on Friday. The company has a market cap of $58.53 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.64 and a beta of 1.05. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $63.49 and a two-hundred day moving average price of $61.02. Canadian Imperial Bank of Commerce has a 12 month low of $45.13 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. Investors of record on Friday, December 27th were paid a $0.6912 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date was Friday, December 27th. This represents a $2.76 annualized dividend and a dividend yield of 4.45%. Canadian Imperial Bank of Commerce’s payout ratio is currently 51.22%.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

Institutional investors have recently made changes to their positions in the stock. Crews Bank & Trust bought a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth about $25,000. Operose Advisors LLC acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. bought a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $30,000. Sandy Spring Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $32,000. Finally, IFP Advisors Inc increased 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 valued at $34,000 after acquiring an additional 404 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

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.