Canadian Imperial Bank of Commerce (NYSE:CM) Receives $161.13 Average Target Price from Analysts

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have been assigned a consensus recommendation of “Buy” from the eleven research firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $161.13.

CM has been the subject of several recent research reports. Barclays increased their price objective on shares of Canadian Imperial Bank of Commerce from $150.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday, August 13th. BMO Capital Markets raised their price objective on Canadian Imperial Bank of Commerce from C$160.00 to C$165.00 and gave the company an “outperform” rating in a research report on Friday, August 27th. CIBC upped their target price on Canadian Imperial Bank of Commerce from C$159.00 to C$168.00 and gave the stock an “outperform” rating in a research report on Friday, August 27th. Zacks Investment Research lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, August 11th. Finally, Canaccord Genuity boosted their price target on Canadian Imperial Bank of Commerce from C$157.00 to C$161.00 and gave the stock a “buy” rating in a research report on Friday, August 27th.

Institutional investors have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. raised its stake in Canadian Imperial Bank of Commerce by 5.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 178,392 shares of the bank’s stock valued at $14,104,000 after buying an additional 9,859 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Canadian Imperial Bank of Commerce by 10.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 8,660 shares of the bank’s stock valued at $847,000 after acquiring an additional 840 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Canadian Imperial Bank of Commerce by 17.0% during the first quarter. Envestnet Asset Management Inc. now owns 531,930 shares of the bank’s stock worth $52,060,000 after purchasing an additional 77,339 shares during the last quarter. Dean Investment Associates LLC increased its stake in Canadian Imperial Bank of Commerce by 2.6% during the first quarter. Dean Investment Associates LLC now owns 28,680 shares of the bank’s stock valued at $2,807,000 after purchasing an additional 737 shares during the last quarter. Finally, Natixis Advisors L.P. raised its holdings in shares of Canadian Imperial Bank of Commerce by 9.6% during the first quarter. Natixis Advisors L.P. now owns 17,572 shares of the bank’s stock worth $1,719,000 after purchasing an additional 1,546 shares during the period. Institutional investors and hedge funds own 42.97% of the company’s stock.

CM stock opened at $114.79 on Friday. The company has a market cap of $51.63 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 0.91 and a beta of 1.13. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $115.58 and a two-hundred day moving average price of $110.03. Canadian Imperial Bank of Commerce has a 12-month low of $72.07 and a 12-month high of $121.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Wednesday, August 25th. The bank reported $3.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.65 by $1.28. Canadian Imperial Bank of Commerce had a return on equity of 16.40% and a net margin of 26.13%. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter in the previous year, the business earned $2.71 EPS. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 11.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 28th. Investors of record on Tuesday, September 28th will be paid a $1.1561 dividend. The ex-dividend date is Monday, September 27th. This represents a $4.62 dividend on an annualized basis and a dividend yield of 4.03%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 67.13%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is a financial institution, which engages in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Small Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, and Corporate and Other.

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

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