Canadian Imperial Bank of Commerce (NYSE:CM) Given Average Rating of “Moderate Buy” by Analysts

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $167.00.

A number of research analysts have weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 28th. TD Securities restated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 27th. Desjardins cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Keefe, Bruyette & Woods initiated coverage on Canadian Imperial Bank of Commerce in a research note on Friday, August 21st. They issued a “market perform” rating on the stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock opened at $113.69 on Friday. The firm has a 50-day moving average of $117.59 and a 200-day moving average of $110.73. The company has a market cap of $103.78 billion, a P/E ratio of 15.18, a P/E/G ratio of 1.11 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a one year low of $78.79 and a one year high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, August 27th. The bank reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.16. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.74 billion. Canadian Imperial Bank of Commerce had a net margin of 16.09% and a return on equity of 17.02%. Equities research analysts forecast that Canadian Imperial Bank of Commerce will post 7.61 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Monday, September 28th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, September 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 41.26%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. West Family Investments Inc. boosted its stake in Canadian Imperial Bank of Commerce by 4.1% in the 2nd quarter. West Family Investments Inc. now owns 2,724 shares of the bank’s stock worth $313,000 after purchasing an additional 107 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Canadian Imperial Bank of Commerce by 0.8% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 14,479 shares of the bank’s stock valued at $1,665,000 after purchasing an additional 110 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Canadian Imperial Bank of Commerce by 1.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,192 shares of the bank’s stock valued at $1,172,000 after purchasing an additional 113 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Canadian Imperial Bank of Commerce by 3.1% in the fourth quarter. Sivia Capital Partners LLC now owns 3,832 shares of the bank’s stock worth $347,000 after buying an additional 116 shares during the last quarter. Finally, Greenspring Advisors LLC raised its holdings in Canadian Imperial Bank of Commerce by 5.6% in the second quarter. Greenspring Advisors LLC now owns 2,445 shares of the bank’s stock worth $281,000 after buying an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a Canadian financial institution headquartered in Toronto, Ontario. The bank provides a broad range of financial products and services to individuals, businesses, institutions and government clients.

CIBC’s principal activities include personal and commercial banking, wealth management, investment banking and capital markets services. Its offerings include deposit accounts, mortgages, consumer and business lending, credit cards, investment advice, brokerage services, asset management, and corporate finance and advisory services.

The bank serves clients primarily in Canada and the United States through its Canadian banking operations, U.S.