Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has received an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $129.83.

A number of brokerages recently commented on CM. ValuEngine raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. Canaccord Genuity reissued an “average” rating and issued a $125.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, February 20th. Scotiabank reissued an “average” rating and issued a $126.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Friday, February 22nd. Barclays reissued an “average” rating and issued a $123.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Friday, March 1st. Finally, Zacks Investment Research downgraded Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, March 4th.

A number of institutional investors and hedge funds have recently modified their holdings of CM. Norges Bank purchased a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at about $309,767,000. Toronto Dominion Bank lifted its holdings in Canadian Imperial Bank of Commerce by 15.6% during the 1st quarter. Toronto Dominion Bank now owns 13,910,392 shares of the bank’s stock worth $1,099,327,000 after buying an additional 1,881,024 shares during the last quarter. APG Asset Management N.V. lifted its holdings in Canadian Imperial Bank of Commerce by 34.4% during the 4th quarter. APG Asset Management N.V. now owns 3,418,660 shares of the bank’s stock worth $222,641,000 after buying an additional 874,400 shares during the last quarter. Beutel Goodman & Co Ltd. lifted its holdings in Canadian Imperial Bank of Commerce by 105.6% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 1,565,565 shares of the bank’s stock worth $123,712,000 after buying an additional 804,140 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Canadian Imperial Bank of Commerce during the 1st quarter worth approximately $66,073,000. 47.26% of the stock is owned by hedge funds and other institutional investors.

Shares of CM stock traded up $0.84 during trading hours on Thursday, reaching $83.55. The company had a trading volume of 439,400 shares, compared to its average volume of 383,234. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.06 and a current ratio of 1.06. Canadian Imperial Bank of Commerce has a twelve month low of $72.96 and a twelve month high of $96.98. The firm has a market cap of $36.73 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 5.00 and a beta of 1.16.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, February 28th. The bank reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.11). Canadian Imperial Bank of Commerce had a net margin of 19.44% and a return on equity of 16.17%. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.51 billion. On average, equities research analysts predict that Canadian Imperial Bank of Commerce will post 9.19 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Thursday, March 28th were issued a $1.0616 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $4.25 dividend on an annualized basis and a yield of 5.08%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.03. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.50%.

About Canadian Imperial Bank of Commerce

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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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