Canadian Imperial Bank of Commerce (NYSE:CM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) from a sell rating to a hold rating in a report issued on Monday morning.

Other analysts also recently issued reports about the stock. Royal Bank Of Canada lifted their price objective on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.50.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $83.31 on Monday. Canadian Imperial Bank of Commerce has a 52-week low of $53.62 and a 52-week high of $84.01. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $77.38 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.76 and a beta of 1.03. The company has a fifty day moving average of $80.51 and a 200-day moving average of $73.20.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same period in the previous year, the firm posted $1.93 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts predict that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 28th. Shareholders of record on Monday, September 29th were paid a $0.97 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. This represents a $3.88 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Monday, September 29th. Canadian Imperial Bank of Commerce’s payout ratio is presently 47.64%.

Institutional Trading of Canadian Imperial Bank of Commerce

Several hedge funds have recently added to or reduced their stakes in CM. TruNorth Capital Management LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 156.0% during the first quarter. TruNorth Capital Management LLC now owns 512 shares of the bank’s stock valued at $29,000 after acquiring an additional 312 shares during the last quarter. HM Payson & Co. bought a new position in shares of Canadian Imperial Bank of Commerce during the first quarter valued at about $29,000. Salem Investment Counselors Inc. bought a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at about $30,000. Truvestments Capital LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the first quarter valued at about $32,000. Finally, Toth Financial Advisory Corp bought a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at about $32,000. 49.88% of the stock is owned by institutional investors.

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.