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

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $107.50.

A number of analysts have weighed in on CM shares. Royal Bank Of Canada raised their target price on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, October 8th. Finally, Raymond James Financial assumed coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They issued a “market perform” rating for the company.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

A number of institutional investors have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. bought a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at $30,000. Truvestments Capital LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the first quarter worth $32,000. Toth Financial Advisory Corp acquired a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at $32,000. AdvisorNet Financial Inc raised its position in Canadian Imperial Bank of Commerce by 300.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 400 shares of the bank’s stock worth $32,000 after purchasing an additional 300 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Canadian Imperial Bank of Commerce by 119.7% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after buying an additional 219 shares during the period. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock traded down $0.98 during midday trading on Wednesday, reaching $92.13. The company’s stock had a trading volume of 191,942 shares, compared to its average volume of 1,119,254. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13. The stock has a market cap of $85.57 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.27 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 52 week low of $53.62 and a 52 week high of $94.16. The business has a 50-day moving average price of $85.01 and a 200-day moving average price of $77.95.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, December 4th. The bank reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.08. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.23 billion. Canadian Imperial Bank of Commerce had a net margin of 13.57% and a return on equity of 14.93%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $1.91 EPS. On average, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Monday, December 29th will be paid a $1.07 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, December 29th. Canadian Imperial Bank of Commerce’s payout ratio is currently 46.31%.

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