Canadian Imperial Bank of Commerce (NYSE:CM) Rating Increased to Hold 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 report report published on Thursday.

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

Canadian Imperial Bank of Commerce Trading Down 0.0 %

NYSE CM opened at $63.60 on Thursday. The stock has a market cap of $59.94 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 1.67 and a beta of 1.06. Canadian Imperial Bank of Commerce has a fifty-two week low of $43.86 and a fifty-two week high of $67.45. The stock has a 50 day simple moving average of $64.15 and a two-hundred day simple moving average of $59.68. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.6912 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, December 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s payout ratio is 51.22%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Public Sector Pension Investment Board boosted its stake in Canadian Imperial Bank of Commerce by 32.0% during the third quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock worth $228,043,000 after acquiring an additional 900,575 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Canadian Imperial Bank of Commerce by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 7,213,860 shares of the bank’s stock worth $342,946,000 after purchasing an additional 228,130 shares in the last quarter. Ritholtz Wealth Management grew its stake in shares of Canadian Imperial Bank of Commerce by 140.6% in the 3rd quarter. Ritholtz Wealth Management now owns 14,308 shares of the bank’s stock worth $878,000 after buying an additional 8,362 shares during the last quarter. CIBC Asset Management Inc increased its position in Canadian Imperial Bank of Commerce by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock valued at $696,659,000 after buying an additional 375,837 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC purchased a new position in Canadian Imperial Bank of Commerce during the third quarter valued at $671,000. 49.88% of the stock is currently owned by institutional investors.

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.