Canadian Imperial Bank of Commerce (NYSE:CM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) from a sell rating to a hold rating in a report issued on Saturday morning.

A number of other brokerages have also weighed in on CM. Scotiabank began coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They set a “sector outperform” rating on the stock. Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at $68.15 on Friday. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.99 and a fifty-two week high of $68.35. The firm has a market capitalization of $64.07 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.62 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50-day simple moving average is $60.71 and its 200-day simple moving average is $61.87.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, March 28th were given a $0.6723 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 3.95%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 48.03%.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

A number of large investors have recently bought and sold shares of CM. Crews Bank & Trust acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $25,000. Operose Advisors LLC acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $26,000. HM Payson & Co. acquired a new position in Canadian Imperial Bank of Commerce in the first quarter valued at approximately $29,000. TruNorth Capital Management LLC lifted its holdings 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 period. Finally, SBI Securities Co. Ltd. acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

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.