Canadian Imperial Bank of Commerce (NYSE:CM) Upgraded 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 published on Friday.

Other research analysts have also issued reports about the company. Cormark raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research note on Friday, August 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $97.00 price target (up previously from $74.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday. Finally, BMO Capital Markets raised their price objective on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.00.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at $66.66 on Friday. The stock has a market cap of $62.97 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 1.67 and a beta of 1.06. 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 of $63.10 and a 200-day moving average of $56.16. Canadian Imperial Bank of Commerce has a 52 week low of $42.28 and a 52 week high of $67.14.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a $0.6912 dividend. This is a positive change 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 yield of 4.15%. Canadian Imperial Bank of Commerce’s payout ratio is currently 49.91%.

Institutional Trading of Canadian Imperial Bank of Commerce

Institutional investors have recently bought and sold shares of the stock. Ridgewood Investments LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the second quarter valued at $29,000. BNP Paribas Financial Markets bought a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at about $44,000. Blue Trust Inc. increased its holdings in 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 last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in Canadian Imperial Bank of Commerce in the second quarter valued at about $51,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Canadian Imperial Bank of Commerce by 23.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after purchasing an additional 171 shares during the last quarter. Institutional investors and hedge funds 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.