TD Securities upgraded shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) from a hold rating to a buy rating in a report released on Wednesday morning, Marketbeat.com reports. They currently have $120.00 price objective on the bank’s stock.

A number of other analysts also recently issued reports on the company. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a sell rating to a hold rating in a research note on Thursday, June 1st. National Bank Financial reaffirmed an outperform overweight rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 18th. Canaccord Genuity initiated coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, July 18th. They issued a buy rating for the company. Finally, BidaskClub downgraded Canadian Imperial Bank of Commerce from a buy rating to a hold rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $102.00.

Canadian Imperial Bank of Commerce (NYSE CM) traded up 0.23% on Wednesday, reaching $86.66. 389,787 shares of the company’s stock were exchanged. The firm has a market cap of $37.78 billion, a PE ratio of 9.99 and a beta of 1.08. Canadian Imperial Bank of Commerce has a one year low of $72.62 and a one year high of $92.22. The firm has a 50 day moving average price of $85.25 and a 200 day moving average price of $83.76.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Thursday, September 28th will be given a dividend of $1.0329 per share. This represents a $4.13 dividend on an annualized basis and a dividend yield of 4.77%. This is an increase 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 dividend payout ratio (DPR) is presently 45.25%.

Several large investors have recently modified their holdings of CM. First Trust Advisors LP increased its position in shares of Canadian Imperial Bank of Commerce by 12.3% during the 1st quarter. First Trust Advisors LP now owns 204,529 shares of the bank’s stock worth $17,632,000 after purchasing an additional 22,425 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Canadian Imperial Bank of Commerce by 3.1% during the 1st quarter. Bank of New York Mellon Corp now owns 667,328 shares of the bank’s stock worth $57,530,000 after purchasing an additional 20,020 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 2.5% during the 1st quarter. Suntrust Banks Inc. now owns 13,156 shares of the bank’s stock worth $1,133,000 after purchasing an additional 320 shares during the last quarter. Comerica Bank increased its position in shares of Canadian Imperial Bank of Commerce by 1.3% during the 1st quarter. Comerica Bank now owns 23,111 shares of the bank’s stock worth $1,863,000 after purchasing an additional 301 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 3.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,692,055 shares of the bank’s stock worth $145,486,000 after purchasing an additional 53,522 shares during the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

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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