Canadian Imperial Bank of Commerce (NYSE:CM) Earns Market Perform Rating from Analysts at Keefe, Bruyette & Woods

Equities research analysts at Keefe, Bruyette & Woods assumed coverage on shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in a report issued on Friday. The brokerage set a “market perform” rating on the bank’s stock.

Several other research analysts have also weighed in on CM. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Desjardins lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada lifted their target price on Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Weiss Ratings upgraded Canadian Imperial Bank of Commerce from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, July 31st. Finally, TD Securities reissued a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, August 12th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $167.00.

Canadian Imperial Bank of Commerce Trading Up 1.8%

NYSE CM traded up $2.09 on Friday, hitting $117.78. 54,318 shares of the stock were exchanged, compared to its average volume of 1,290,245. The company’s 50-day moving average price is $117.07 and its two-hundred day moving average price is $108.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. 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 market capitalization of $107.51 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 1.28 and a beta of 1.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. The company had revenue of $5.89 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 earnings per share. Research analysts predict that Canadian Imperial Bank of Commerce will post 7.33 EPS for the current year.

Institutional Trading of Canadian Imperial Bank of Commerce

Institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 1.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank’s stock valued at $880,000 after buying an additional 114 shares during the last quarter. Parallel Advisors LLC raised its position in Canadian Imperial Bank of Commerce by 3.5% during the third quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock valued at $272,000 after acquiring an additional 116 shares in the last quarter. Sivia Capital Partners LLC raised its position in Canadian Imperial Bank of Commerce by 3.1% during the fourth quarter. Sivia Capital Partners LLC now owns 3,832 shares of the bank’s stock valued at $347,000 after acquiring an additional 116 shares in the last quarter. McIlrath & Eck LLC lifted its stake in Canadian Imperial Bank of Commerce by 7.1% in the fourth quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank’s stock valued at $175,000 after acquiring an additional 128 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in Canadian Imperial Bank of Commerce by 12.7% in the fourth quarter. Fifth Third Bancorp now owns 1,337 shares of the bank’s stock valued at $121,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds 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.