Analysts Set Canadian Imperial Bank of Commerce (NYSE:CM) PT at $92.00

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $92.00.

Several research firms have recently commented on CM. StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Friday. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Several institutional investors have recently modified their holdings of the business. Crews Bank & Trust bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at about $25,000. Operose Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the 4th 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 valued at approximately $30,000. Sandy Spring Bank purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $32,000. Finally, IFP Advisors Inc raised its holdings 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 purchasing an additional 404 shares during the period. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $56.79 on Friday. The business has a 50-day simple moving average of $59.43 and a 200 day simple moving average of $61.92. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45. 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 has a market capitalization of $53.39 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.62 and a beta of 0.98.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently declared 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 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 48.03%.

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.