Canadian Imperial Bank of Commerce (NYSE:CM) Stock Has Consensus Price Target of $167.00 According to Brokerages

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have earned an average rating of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $167.00.

A number of equities research analysts have commented on the company. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods assumed coverage on Canadian Imperial Bank of Commerce in a research report on Friday, August 21st. They set a “market perform” rating for the company. Desjardins downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Royal Bank Of Canada restated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 28th. Finally, Weiss Ratings raised shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, August 27th.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $108.19 on Tuesday. Canadian Imperial Bank of Commerce has a 1 year low of $79.32 and a 1 year high of $124.86. The firm has a market capitalization of $98.76 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.07 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50 day simple moving average of $115.59 and a 200-day simple moving average of $112.16.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, August 27th. The bank reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.16. Canadian Imperial Bank of Commerce had a return on equity of 17.02% and a net margin of 16.09%.The company had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.74 billion. Equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 7.6 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Monday, September 28th will be issued a C$1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, September 28th. Canadian Imperial Bank of Commerce’s payout ratio is currently 41.26%.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bell Investment Advisors Inc purchased a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter worth approximately $36,000. Security National Bank of SO Dak acquired a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter worth approximately $42,000. Global Assets Advisory LLC purchased a new position in Canadian Imperial Bank of Commerce in the 1st quarter valued at approximately $54,000. SHP Wealth Management acquired a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $108,000. Finally, Manchester Capital Management LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 92.6% in the fourth quarter. Manchester Capital Management LLC now owns 1,256 shares of the bank’s stock worth $114,000 after acquiring an additional 604 shares in the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a diversified financial institution headquartered in Toronto, Ontario. The bank provides banking, lending, investment, wealth management and capital-markets services to individuals, businesses, institutions and governments.

CIBC’s principal business areas include Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, and Capital Markets. Its offerings include deposit accounts, mortgages, personal and business loans, credit cards, investment products, financial planning, private wealth services, corporate finance, investment banking, advisory services and securities trading.

The institution was formed in 1961 through the merger of the Canadian Bank of Commerce, established in 1867, and the Imperial Bank of Canada, established in 1873.