TD Securities lowered shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) from a buy rating to a hold rating in a report issued on Thursday, The Fly reports.

CM has been the topic of several other reports. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a sell rating to a hold rating in a report on Wednesday, May 1st. ValuEngine upgraded Canadian Imperial Bank of Commerce from a sell rating to a hold rating in a report on Tuesday, February 5th. Canaccord Genuity restated an average rating and set a $125.00 price objective on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, February 20th. Desjardins downgraded Canadian Imperial Bank of Commerce from a buy rating to a hold rating in a report on Wednesday, May 22nd. Finally, Scotiabank restated an average rating and set a $126.00 price objective on shares of Canadian Imperial Bank of Commerce in a report on Friday, February 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $123.83.

Canadian Imperial Bank of Commerce stock opened at $77.84 on Thursday. 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 has a one year low of $72.96 and a one year high of $96.98. The company has a market cap of $34.57 billion, a P/E ratio of 8.33, a P/E/G ratio of 5.11 and a beta of 1.16.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Wednesday, May 22nd. The bank reported $2.97 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the previous year, the business earned $2.95 EPS. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 9.14 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $4.16 annualized dividend and a yield of 5.34%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 45.50%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 244.2% in the 1st quarter. Advisory Services Network LLC now owns 1,525 shares of the bank’s stock valued at $121,000 after acquiring an additional 1,082 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Canadian Imperial Bank of Commerce in the 1st quarter valued at approximately $1,472,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 23.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,229 shares of the bank’s stock valued at $494,000 after acquiring an additional 1,165 shares during the last quarter. Man Group plc increased its holdings in shares of Canadian Imperial Bank of Commerce by 8.0% in the 1st quarter. Man Group plc now owns 280,100 shares of the bank’s stock valued at $22,140,000 after acquiring an additional 20,653 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Canadian Imperial Bank of Commerce by 3.0% in the 1st quarter. M&T Bank Corp now owns 12,612 shares of the bank’s stock valued at $998,000 after acquiring an additional 362 shares during the last quarter. Institutional investors and hedge funds 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.

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

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