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

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have earned an average rating of “Hold” from the fourteen analysts that are covering the stock, MarketBeat reports. Fourteen equities research analysts have rated the stock with a hold rating. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $112.00.

A number of equities analysts recently commented on CM shares. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, February 7th. Credit Suisse Group dropped their price objective on Canadian Imperial Bank of Commerce from $105.00 to $104.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. ValuEngine upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Canaccord Genuity dropped their price objective on Canadian Imperial Bank of Commerce from $112.50 to $108.00 and set a “hold” rating on the stock in a report on Friday, December 6th. Finally, CIBC upgraded Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a report on Tuesday, February 4th.

A number of hedge funds have recently made changes to their positions in the business. Cigna Investments Inc. New grew its holdings in Canadian Imperial Bank of Commerce by 2.1% during the fourth quarter. Cigna Investments Inc. New now owns 6,574 shares of the bank’s stock valued at $537,000 after purchasing an additional 138 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in Canadian Imperial Bank of Commerce by 2.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 5,500 shares of the bank’s stock valued at $458,000 after purchasing an additional 142 shares during the last quarter. Keudell Morrison Wealth Management grew its holdings in Canadian Imperial Bank of Commerce by 1.5% during the fourth quarter. Keudell Morrison Wealth Management now owns 9,397 shares of the bank’s stock valued at $782,000 after purchasing an additional 143 shares during the last quarter. JCIC Asset Management Inc. grew its holdings in Canadian Imperial Bank of Commerce by 13.3% during the fourth quarter. JCIC Asset Management Inc. now owns 1,501 shares of the bank’s stock valued at $125,000 after purchasing an additional 176 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in Canadian Imperial Bank of Commerce by 5.1% during the fourth quarter. Blair William & Co. IL now owns 3,961 shares of the bank’s stock valued at $330,000 after purchasing an additional 194 shares during the last quarter. Institutional investors own 44.17% of the company’s stock.

Shares of NYSE CM traded down $0.07 during mid-day trading on Friday, reaching $82.39. The company had a trading volume of 445,400 shares, compared to its average volume of 354,612. The stock has a fifty day moving average of $82.74 and a two-hundred day moving average of $82.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $36.77 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 2.45 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 12-month low of $73.20 and a 12-month high of $87.62.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, December 5th. The bank reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.52. Canadian Imperial Bank of Commerce had a net margin of 17.72% and a return on equity of 15.57%. The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period in the prior year, the firm earned $3.00 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 9.07 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were issued a dividend of $1.0908 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.36 annualized dividend and a yield of 5.30%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 48.38%.

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.

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

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