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 an average recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $167.00.

Several research analysts have issued reports on CM shares. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Raymond James Financial reiterated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Zacks Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Royal Bank Of Canada lifted their price objective on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a research report on Monday, June 1st.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $113.85 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $103.93 billion, a P/E ratio of 15.64, a PEG ratio of 1.25 and a beta of 1.01. The business has a 50 day simple moving average of $111.77 and a 200-day simple moving average of $101.71. Canadian Imperial Bank of Commerce has a twelve month low of $71.00 and a twelve month high of $117.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The business had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.86 billion. During the same period in the previous year, the company posted $2.05 EPS. The company’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 7.37 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 3.8%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 42.58%.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

A number of large investors have recently made changes to their positions in CM. Sequoia Financial Advisors LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 1.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank’s stock valued at $880,000 after acquiring an additional 114 shares in the last quarter. Parallel Advisors LLC grew its position in Canadian Imperial Bank of Commerce by 3.5% during the 3rd quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock worth $272,000 after purchasing an additional 116 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Canadian Imperial Bank of Commerce by 3.1% during the 4th quarter. Sivia Capital Partners LLC now owns 3,832 shares of the bank’s stock valued at $347,000 after purchasing an additional 116 shares during the period. McIlrath & Eck LLC raised its stake in Canadian Imperial Bank of Commerce by 7.1% during the 4th quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank’s stock valued at $175,000 after purchasing an additional 128 shares during the period. Finally, Bridgewater Advisors Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 4.2% in the fourth quarter. Bridgewater Advisors Inc. now owns 3,402 shares of the bank’s stock valued at $311,000 after purchasing an additional 138 shares in 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 (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.