Canadian Imperial Bank of Commerce (NYSE:CM) Receives Average Rating of “Hold” from Brokerages

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Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has been given an average recommendation of “Hold” by the nine analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $126.00.

Several research analysts have issued reports on the company. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. TD Securities cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. ValuEngine cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Barclays cut Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, June 11th. Finally, Canaccord Genuity cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd.

NYSE:CM traded down $0.02 on Monday, hitting $77.18. The stock had a trading volume of 197,800 shares, compared to its average volume of 405,469. The stock has a market cap of $34.33 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 6.82 and a beta of 1.18. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $79.93. Canadian Imperial Bank of Commerce has a 52-week low of $72.96 and a 52-week high of $96.98.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Wednesday, May 22nd. The bank reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.75. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.36 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.30% and a net margin of 18.83%. During the same period last year, the firm posted $2.95 earnings per share. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 8.99 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 5.39%. Canadian Imperial Bank of Commerce’s payout ratio is currently 45.50%.

Hedge funds have recently bought and sold shares of the company. Liberty Wealth Management LLC bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $31,000. Heritage Wealth Advisors bought a new stake in Canadian Imperial Bank of Commerce during the 1st quarter valued at approximately $31,000. CWM LLC raised its stake in Canadian Imperial Bank of Commerce by 1,524.0% during the 1st quarter. CWM LLC now owns 406 shares of the bank’s stock valued at $32,000 after purchasing an additional 381 shares during the period. Meridian Wealth Management LLC bought a new stake in Canadian Imperial Bank of Commerce during the 1st quarter valued at approximately $32,000. Finally, Advisory Services Network LLC raised its stake in Canadian Imperial Bank of Commerce by 108.0% during the 4th quarter. Advisory Services Network LLC now owns 443 shares of the bank’s stock valued at $33,000 after purchasing an additional 230 shares during the period. 45.63% 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, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Read More: Diversification Important in Investing

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

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