ValuEngine Lowers Canadian Imperial Bank of Commerce (CM) to Hold

ValuEngine lowered shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) from a buy rating to a hold rating in a report issued on Monday morning.

A number of other research analysts have also recently commented on the company. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a hold rating to a sell rating in a research report on Wednesday, January 31st. Barclays raised Canadian Imperial Bank of Commerce from an underweight rating to an overweight rating in a report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $115.86.

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Shares of NYSE CM traded down $0.88 during trading on Monday, reaching $87.69. 55,861 shares of the stock traded hands, compared to its average volume of 428,018. Canadian Imperial Bank of Commerce has a 52-week low of $77.20 and a 52-week high of $100.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $38,898.71, a PE ratio of 9.96, a P/E/G ratio of 1.61 and a beta of 1.15.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, February 22nd. The bank reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.24. Canadian Imperial Bank of Commerce had a return on equity of 17.57% and a net margin of 21.38%. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.32 billion. equities analysts expect that Canadian Imperial Bank of Commerce will post 9.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Wednesday, March 28th will be issued a dividend of $1.047 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Tuesday, March 27th. This represents a $4.19 dividend on an annualized basis and a yield of 4.78%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 47.13%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. increased its stake in Canadian Imperial Bank of Commerce by 18.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 68,794 shares of the bank’s stock worth $5,997,000 after acquiring an additional 10,903 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Canadian Imperial Bank of Commerce by 22.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 714,178 shares of the bank’s stock worth $62,640,000 after acquiring an additional 130,922 shares during the last quarter. Wells Fargo & Company MN increased its stake in Canadian Imperial Bank of Commerce by 218.7% in the 3rd quarter. Wells Fargo & Company MN now owns 425,715 shares of the bank’s stock worth $37,258,000 after acquiring an additional 292,154 shares during the last quarter. BB&T Securities LLC increased its stake in Canadian Imperial Bank of Commerce by 141.0% in the 3rd quarter. BB&T Securities LLC now owns 41,653 shares of the bank’s stock worth $3,645,000 after acquiring an additional 24,373 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in Canadian Imperial Bank of Commerce by 275.8% in the 3rd quarter. Stifel Financial Corp now owns 42,551 shares of the bank’s stock worth $3,723,000 after acquiring an additional 31,227 shares during the last quarter. 46.63% of the stock is currently owned by institutional investors and hedge funds.

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Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce operates as a global financial institution, which provides a full range of financial products and services to individual, small business, commercial, corporate and institutional clients. It operates through the following segments: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Canadian Imperial Bank of Commerce (NYSE:CM)

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