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

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $107.50.

CM has been the topic of a number of recent research reports. Raymond James Financial restated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday. Zacks Research lowered Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Scotiabank restated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, May 4th. Weiss Ratings lowered Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, April 17th. Finally, Barclays upgraded Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research note on Thursday, February 19th.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Several hedge funds and other institutional investors have recently modified their holdings of CM. Sivia Capital Partners LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at $262,000. EverSource Wealth Advisors LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 12.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,801 shares of the bank’s stock valued at $128,000 after purchasing an additional 193 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Canadian Imperial Bank of Commerce by 2.6% in the 2nd quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock valued at $445,000 after purchasing an additional 160 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Canadian Imperial Bank of Commerce by 74.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 336,017 shares of the bank’s stock valued at $23,833,000 after purchasing an additional 143,588 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 7,315.0% in the 2nd quarter. NewEdge Advisors LLC now owns 2,966 shares of the bank’s stock valued at $210,000 after purchasing an additional 2,926 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM opened at $110.02 on Friday. The stock has a market cap of $101.03 billion, a P/E ratio of 16.04, a PEG ratio of 1.14 and a beta of 1.05. The stock has a 50 day simple moving average of $102.43 and a 200 day simple moving average of $95.02. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. Canadian Imperial Bank of Commerce has a 1-year low of $64.93 and a 1-year high of $113.28.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a return on equity of 15.69% and a net margin of 15.15%.The business had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $5.53 billion. During the same period last year, the firm posted $2.20 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Research analysts anticipate that Canadian Imperial Bank of Commerce will post 7.57 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Friday, March 27th were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 45.77%.

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.