Canadian Imperial Bank of Commerce (CM) Given Average Rating of “Hold” by Analysts

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have been given an average recommendation of “Hold” by the nine research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $101.80.

Several analysts have recently weighed in on the company. TD Securities upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Wednesday, September 6th. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, Canaccord Genuity assumed coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, July 18th. They issued a “buy” rating for the company.



Several institutional investors have recently made changes to their positions in the company. TD Asset Management Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 3.1% in the second quarter. TD Asset Management Inc. now owns 20,328,408 shares of the bank’s stock valued at $1,649,658,000 after buying an additional 620,661 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 16.4% in the second quarter. Vanguard Group Inc. now owns 9,859,474 shares of the bank’s stock valued at $800,194,000 after buying an additional 1,391,019 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Canadian Imperial Bank of Commerce by 13.3% in the second quarter. CIBC Asset Management Inc now owns 7,730,504 shares of the bank’s stock valued at $627,527,000 after buying an additional 907,963 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 7.2% in the second quarter. Acadian Asset Management LLC now owns 6,091,971 shares of the bank’s stock valued at $494,364,000 after buying an additional 407,672 shares during the period. Finally, Investec Asset Management LTD lifted its holdings in shares of Canadian Imperial Bank of Commerce by 2.3% in the second quarter. Investec Asset Management LTD now owns 3,220,130 shares of the bank’s stock valued at $261,315,000 after buying an additional 71,926 shares during the period. Institutional investors and hedge funds own 46.43% of the company’s stock.

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Shares of Canadian Imperial Bank of Commerce (NYSE CM) opened at 89.72 on Wednesday. Canadian Imperial Bank of Commerce has a 12-month low of $72.62 and a 12-month high of $92.22. The firm has a market cap of $39.11 billion, a P/E ratio of 9.91 and a beta of 1.09. The firm has a 50-day moving average price of $87.39 and a 200-day moving average price of $83.64.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Thursday, September 28th will be issued a $1.0329 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $4.13 annualized dividend and a dividend yield of 4.61%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 49.82%.

Canadian Imperial Bank of Commerce Company Profile

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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