Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) has received an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $107.50.
Several analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, January 21st. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. Raymond James Financial initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, November 25th. They set a “market perform” rating for the company. Finally, Zacks Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st.
View Our Latest Research Report on CM
Institutional Inflows and Outflows
Canadian Imperial Bank of Commerce Stock Up 2.6%
Shares of NYSE CM opened at $94.80 on Thursday. The stock has a market cap of $87.84 billion, a P/E ratio of 15.57, a PEG ratio of 1.26 and a beta of 1.02. The business’s fifty day simple moving average is $91.19 and its 200-day simple moving average is $83.20. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $95.20. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13.
Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate 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 was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.91 EPS. As a group, equities 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 Wednesday, January 28th. Investors of record on Monday, December 29th were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 50.25%.
Canadian Imperial Bank of Commerce Company Profile
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.
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