BMO Capital Markets reissued their hold rating on shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in a research report released on Thursday, TipRanks reports.

A number of other equities research analysts have also recently issued reports on the company. Canaccord Genuity cut Canadian Imperial Bank of Commerce from a buy rating to a hold rating in a research note on Thursday. TD Securities cut Canadian Imperial Bank of Commerce from a buy rating to a hold rating in a research note on Thursday. Desjardins cut Canadian Imperial Bank of Commerce from a buy rating to a hold rating in a research note on Wednesday. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a sell rating to a hold rating in a research note on Friday, May 17th. Finally, ValuEngine cut Canadian Imperial Bank of Commerce from a hold rating to a sell rating in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $125.43.

Shares of Canadian Imperial Bank of Commerce stock opened at $77.02 on Thursday. Canadian Imperial Bank of Commerce has a 52-week low of $72.96 and a 52-week high of $96.98. The stock has a market capitalization of $37.11 billion, a P/E ratio of 8.25, a PEG ratio of 5.11 and a beta of 1.16. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.12.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Wednesday, May 22nd. The bank reported $2.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.22 by $0.75. Canadian Imperial Bank of Commerce had a return on equity of 16.17% and a net margin of 19.44%. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same period in the previous year, the business posted $2.95 EPS. As a group, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 9.14 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 5.40%. The ex-dividend date is Thursday, June 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 45.50%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Heritage Wealth Advisors bought a new stake in shares of Canadian Imperial Bank of Commerce during the first quarter valued at about $31,000. CWM LLC increased its position in shares of Canadian Imperial Bank of Commerce by 1,524.0% during the first quarter. CWM LLC now owns 406 shares of the bank’s stock valued at $32,000 after buying an additional 381 shares during the period. Liberty Wealth Management LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $31,000. Advisory Services Network LLC increased its position in shares of Canadian Imperial Bank of Commerce by 108.0% in the fourth quarter. Advisory Services Network LLC now owns 443 shares of the bank’s stock worth $33,000 after purchasing an additional 230 shares during the last quarter. Finally, Financial Gravity Companies Inc. bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 45.93% 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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Featured Story: Cryptocurrencies

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

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.