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

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM has earned an average rating of "Moderate Buy" from the six analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $92.00.

Several research firms recently issued reports on CM. Jefferies Financial Group downgraded shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Wednesday. Finally, Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th.

Institutional Trading of Canadian Imperial Bank of Commerce

Institutional investors and hedge funds have recently modified their holdings of the business. Crews Bank & Trust purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at $25,000. Operose Advisors LLC purchased a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $26,000. HM Payson & Co. bought a new stake in Canadian Imperial Bank of Commerce in the first quarter worth about $29,000. TruNorth Capital Management LLC boosted its stake in Canadian Imperial Bank of Commerce by 156.0% in the first quarter. TruNorth Capital Management LLC now owns 512 shares of the bank's stock valued at $29,000 after acquiring an additional 312 shares during the last quarter. Finally, 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. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Up 0.2 %

NYSE:CM traded up $0.15 on Tuesday, hitting $63.10. The stock had a trading volume of 555,406 shares, compared to its average volume of 1,134,869. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 52 week low of $46.50 and a 52 week high of $67.45. The business's fifty day moving average is $58.00 and its 200 day moving average is $61.58. The company has a market cap of $59.32 billion, a PE ratio of 11.79, a P/E/G ratio of 1.62 and a beta of 0.98.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were paid a $0.6723 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.26%. Canadian Imperial Bank of Commerce's payout ratio 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.