Canadian Imperial Bank of Commerce (NYSE:CM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have received a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $167.00.

CM has been the subject of a number of analyst reports. TD Securities reaffirmed a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, August 12th. Desjardins downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, June 16th. Zacks Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $116.38 on Monday. Canadian Imperial Bank of Commerce has a 52 week low of $72.57 and a 52 week high of $124.86. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $117.13 and a two-hundred day simple moving average of $108.27. The firm has a market capitalization of $106.24 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.08. The business had revenue of $5.89 billion during the quarter, compared to analysts’ expectations of $5.86 billion. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The business’s revenue was up 14.0% on a year-over-year basis. During the same period last year, the company posted $2.05 EPS. Analysts anticipate that Canadian Imperial Bank of Commerce will post 7.33 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Monday, June 29th were given a $1.07 dividend. The ex-dividend date was Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 3.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 42.58%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 119.7% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after acquiring an additional 219 shares during the last quarter. EFG International AG bought a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at about $35,000. Bell Investment Advisors Inc bought a new position in Canadian Imperial Bank of Commerce during the 2nd quarter valued at about $36,000. Global Assets Advisory LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 1st quarter worth about $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in Canadian Imperial Bank of Commerce by 87.0% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after purchasing an additional 400 shares during the period. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.