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

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $167.00.

A number of brokerages have recently issued reports on CM. Keefe, Bruyette & Woods started coverage on shares of Canadian Imperial Bank of Commerce in a research note on Friday. They issued a “market perform” rating for the company. Scotiabank reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, June 16th. Raymond James Financial reiterated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday. Finally, Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, August 4th.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cibc World Market Inc. bought a new position in Canadian Imperial Bank of Commerce during the 2nd quarter valued at about $1,342,850,000. Bank of Nova Scotia bought a new stake in Canadian Imperial Bank of Commerce during the second quarter worth about $1,297,567,000. Norges Bank bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $958,383,000. Canada Pension Plan Investment Board bought a new stake in Canadian Imperial Bank of Commerce during the second quarter worth about $927,219,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter worth approximately $916,774,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 0.1%

Canadian Imperial Bank of Commerce stock opened at $116.38 on Monday. The business has a 50 day moving average price of $117.13 and a two-hundred day moving average price of $108.36. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The stock has a market cap of $106.24 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.22 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 12 month low of $72.57 and a 12 month high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.08. The company had revenue of $5.89 billion during the quarter, compared to the consensus estimate of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company earned $2.05 EPS. As a group, equities analysts forecast that Canadian Imperial Bank of Commerce will post 7.41 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 42.58%.

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.