Canadian Imperial Bank of Commerce (NYSE:CM) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) have earned a consensus recommendation of “Hold” from the eleven research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $74.57.

Several equities research analysts have recently issued reports on the company. StockNews.com began coverage on Canadian Imperial Bank of Commerce in a research report on Thursday. They issued a “hold” rating on the stock. National Bank Financial cut shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Thursday, December 1st. Bank of America cut shares of Canadian Imperial Bank of Commerce from a “neutral” rating to an “underperform” rating in a research report on Monday, December 12th. CIBC upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and reduced their price target for the stock from C$67.00 to C$61.00 in a research report on Tuesday, December 20th. Finally, Credit Suisse Group downgraded shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “neutral” rating in a research note on Friday, December 9th.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $41.12 on Thursday. The stock has a fifty day moving average of $44.58 and a 200-day moving average of $44.70. The firm has a market capitalization of $37.49 billion, a P/E ratio of 10.44, a PEG ratio of 2.20 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 12-month low of $39.40 and a 12-month high of $65.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Tuesday, March 28th will be given a dividend of $0.639 per share. The ex-dividend date is Monday, March 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.63. This represents a $2.56 annualized dividend and a yield of 6.22%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 63.20%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Twin Tree Management LP increased its holdings in shares of Canadian Imperial Bank of Commerce by 106.1% during the third quarter. Twin Tree Management LP now owns 600 shares of the bank’s stock worth $26,000 after purchasing an additional 10,400 shares during the period. Glassman Wealth Services increased its holdings in shares of Canadian Imperial Bank of Commerce by 49.8% during the fourth quarter. Glassman Wealth Services now owns 659 shares of the bank’s stock worth $27,000 after purchasing an additional 219 shares during the period. Banque Cantonale Vaudoise increased its holdings in shares of Canadian Imperial Bank of Commerce by 67.6% during the fourth quarter. Banque Cantonale Vaudoise now owns 744 shares of the bank’s stock worth $30,000 after purchasing an additional 300 shares during the period. Brown Brothers Harriman & Co. increased its holdings in shares of Canadian Imperial Bank of Commerce by 100.0% during the second quarter. Brown Brothers Harriman & Co. now owns 832 shares of the bank’s stock worth $40,000 after purchasing an additional 416 shares during the period. Finally, Ronald Blue Trust Inc. increased its stake in Canadian Imperial Bank of Commerce by 840.4% in the fourth quarter. Ronald Blue Trust Inc. now owns 931 shares of the bank’s stock valued at $41,000 after acquiring an additional 832 shares during the last quarter. 44.40% of the stock is owned by institutional investors.

About Canadian Imperial Bank of Commerce

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Canadian Imperial Bank of Commerce is a financial institution, which engages in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, and Corporate and Other.