Analysts Set Canadian Imperial Bank of Commerce (NYSE:CM) Price Target at $167.00

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $167.00.

A number of research analysts recently issued reports on the company. TD Securities reiterated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, July 31st. Barclays reaffirmed an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Jefferies Financial Group reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Finally, Scotiabank reissued an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, June 16th.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

A number of institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 119.7% in the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after acquiring an additional 219 shares in the last quarter. EFG International AG purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth about $35,000. Bell Investment Advisors Inc purchased a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter worth about $36,000. Global Assets Advisory LLC bought a new stake in Canadian Imperial Bank of Commerce during the 1st quarter valued at approximately $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in Canadian Imperial Bank of Commerce by 87.0% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock valued at $69,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 3.0%

Canadian Imperial Bank of Commerce stock opened at $118.01 on Monday. The business has a 50-day simple moving average of $116.99 and a two-hundred day simple moving average of $108.05. The company has a market cap of $107.73 billion, a P/E ratio of 16.21, a P/E/G ratio of 1.32 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 52-week low of $72.57 and a 52-week high of $124.86. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, topping the consensus estimate of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The firm had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same period in the prior year, the business posted $2.05 EPS. Canadian Imperial Bank of Commerce’s revenue was up 14.0% on a year-over-year basis. Analysts predict that Canadian Imperial Bank of Commerce will post 7.33 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Monday, June 29th were issued a $1.07 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.28 annualized dividend and a yield of 3.6%. 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.