Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $101.80.

A number of research analysts recently weighed in on CM shares. TD Securities upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Wednesday, September 6th. Canaccord Genuity set a $117.00 target price on shares of Canadian Imperial Bank of Commerce and gave the company a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Tuesday, July 18th. Finally, BidaskClub upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th.

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Shares of Canadian Imperial Bank of Commerce (NYSE CM) opened at 88.76 on Friday. The company has a 50 day moving average price of $85.56 and a 200-day moving average price of $83.58. Canadian Imperial Bank of Commerce has a 12 month low of $72.62 and a 12 month high of $92.22. The stock has a market cap of $38.69 billion, a P/E ratio of 10.10 and a beta of 1.08.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Thursday, September 28th will be paid a dividend of $1.0329 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. The ex-dividend date is Wednesday, September 27th. This represents a $4.13 dividend on an annualized basis and a dividend yield of 4.65%. Canadian Imperial Bank of Commerce’s payout ratio is 45.25%.

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its stake in Canadian Imperial Bank of Commerce by 55.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock worth $120,000 after purchasing an additional 526 shares in the last quarter. INR Advisory Services LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter worth $125,000. Opera Trading Capital purchased a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter worth $136,000. Nationwide Fund Advisors purchased a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter worth $138,000. Finally, Parallel Advisors LLC lifted its stake in Canadian Imperial Bank of Commerce by 7.2% in the 1st quarter. Parallel Advisors LLC now owns 1,915 shares of the bank’s stock worth $152,000 after purchasing an additional 129 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

Analyst Recommendations for Canadian Imperial Bank of Commerce (NYSE:CM)

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