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

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $107.50.

Several equities research analysts have commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, October 8th. Wall Street Zen raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Raymond James Financial initiated coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They set a “market perform” rating for the company. Finally, Zacks Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st.

Canadian Imperial Bank of Commerce Trading Down 1.0%

Shares of NYSE:CM opened at $90.74 on Friday. The firm has a market cap of $84.28 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.24 and a beta of 1.02. The company’s fifty day simple moving average is $88.79 and its 200 day simple moving average is $80.82. Canadian Imperial Bank of Commerce has a 12 month low of $53.62 and a 12 month high of $94.16. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.13.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, December 4th. The bank reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.08. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.93% and a net margin of 13.57%.Canadian Imperial Bank of Commerce’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.91 earnings per share. As a group, research analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Monday, December 29th will be given a $1.07 dividend. The ex-dividend date is Monday, December 29th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 50.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CM. Salem Investment Counselors Inc. bought a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at $30,000. Toth Financial Advisory Corp bought a new stake in shares of Canadian Imperial Bank of Commerce in the third quarter worth $32,000. AdvisorNet Financial Inc increased its stake in shares of Canadian Imperial Bank of Commerce by 300.0% in the third quarter. AdvisorNet Financial Inc now owns 400 shares of the bank’s stock valued at $32,000 after buying an additional 300 shares during the period. Larson Financial Group LLC increased its position 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 valued at $32,000 after purchasing an additional 219 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in Canadian Imperial Bank of Commerce during the second quarter worth $34,000. 49.88% of the stock is owned by institutional investors.

About Canadian Imperial Bank of Commerce

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.