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

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

Hedge funds and other institutional investors 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% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock valued at $120,000 after acquiring an additional 526 shares during the period. INR Advisory Services LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at approximately $125,000. Opera Trading Capital purchased a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at approximately $136,000. Nationwide Fund Advisors purchased a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at approximately $138,000. Finally, D.A. Davidson & CO. purchased a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at approximately $162,000. Institutional investors and hedge funds own 46.43% of the company’s stock.

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Canadian Imperial Bank of Commerce (NYSE CM) traded down 1.24% during midday trading on Wednesday, reaching $89.22. 386,147 shares of the company traded hands. The stock has a market capitalization of $38.90 billion, a P/E ratio of 9.86 and a beta of 1.09. Canadian Imperial Bank of Commerce has a one year low of $72.62 and a one year high of $92.22. The company has a 50 day moving average price of $88.16 and a 200-day moving average price of $83.82.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, September 28th will be paid a dividend of $1.0329 per share. This represents a $4.13 annualized dividend and a yield of 4.63%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Wednesday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 49.82%.

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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