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 report published on Tuesday morning.

Separately, Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock 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 issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $61.68 on Tuesday. The stock has a market capitalization of $58.13 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.66 and a beta of 1.05. The company has a fifty day moving average of $63.94 and a 200-day moving average of $60.53. Canadian Imperial Bank of Commerce has a 52-week low of $43.86 and a 52-week high of $67.45. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were paid a dividend of $0.6912 per share. This represents a $2.76 annualized dividend and a dividend yield of 4.48%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date was Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 51.22%.

Institutional Trading of Canadian Imperial Bank of Commerce

Large investors have recently modified their holdings of the business. Squarepoint Ops LLC purchased a new position in Canadian Imperial Bank of Commerce during the 2nd quarter valued at $407,000. Sanctuary Advisors LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the second quarter valued at about $326,000. Park Avenue Securities LLC raised its stake in Canadian Imperial Bank of Commerce by 43.5% in the third quarter. Park Avenue Securities LLC now owns 8,625 shares of the bank’s stock worth $529,000 after buying an additional 2,615 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 41.7% in the third quarter. Atomi Financial Group Inc. now owns 7,879 shares of the bank’s stock worth $483,000 after buying an additional 2,318 shares during the period. Finally, Perfromance Wealth Partners LLC bought a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $323,000. 49.88% of the stock is 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.