Canadian Imperial Bank of Commerce (NYSE:CM) Stock Rating Upgraded by 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 Thursday morning.

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

Canadian Imperial Bank of Commerce Stock Down 0.2 %

Shares of CM stock opened at $63.52 on Thursday. The stock’s fifty day moving average price is $64.14 and its 200 day moving average price is $59.81. 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 1-year low of $43.86 and a 1-year high of $67.45. The company has a market cap of $59.86 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 1.68 and a beta of 1.06.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be issued a dividend of $0.6912 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 4.35%. Canadian Imperial Bank of Commerce’s payout ratio is 51.22%.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

A number of institutional investors have recently bought and sold shares of CM. Crews Bank & Trust acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $25,000. BNP Paribas Financial Markets purchased a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $44,000. Blue Trust Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 571.6% in the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after buying an additional 623 shares during the period. Versant Capital Management Inc boosted its stake in shares of Canadian Imperial Bank of Commerce by 1,069.4% in the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock worth $46,000 after buying an additional 663 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Canadian Imperial Bank of Commerce by 23.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after acquiring an additional 171 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

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.