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Stock market today: World shares are mostly higher after S&P 500 sets another record
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A UK financial trader dubbed the ringleader of an interest rate manipulation scandal loses an appeal
S&P 500   5,248.49
DOW   39,760.08
QQQ   444.83
Stock market today: World shares are mostly higher after S&P 500 sets another record
Mid-Cap Stocks to Outperform the Market This Cycle
Is DraftKings A Good Bet Ahead of Q1 Earnings?
Best Bear Market Funds: Top 3 Investment Options to Consider
Low VIX? 3 High Beta Stocks To Boost Your Returns
How and When to Roll Your Options Positions?
A UK financial trader dubbed the ringleader of an interest rate manipulation scandal loses an appeal
S&P 500   5,248.49
DOW   39,760.08
QQQ   444.83
Stock market today: World shares are mostly higher after S&P 500 sets another record
Mid-Cap Stocks to Outperform the Market This Cycle
Is DraftKings A Good Bet Ahead of Q1 Earnings?
Best Bear Market Funds: Top 3 Investment Options to Consider
Low VIX? 3 High Beta Stocks To Boost Your Returns
How and When to Roll Your Options Positions?
A UK financial trader dubbed the ringleader of an interest rate manipulation scandal loses an appeal
S&P 500   5,248.49
DOW   39,760.08
QQQ   444.83
Stock market today: World shares are mostly higher after S&P 500 sets another record
Mid-Cap Stocks to Outperform the Market This Cycle
Is DraftKings A Good Bet Ahead of Q1 Earnings?
Best Bear Market Funds: Top 3 Investment Options to Consider
Low VIX? 3 High Beta Stocks To Boost Your Returns
How and When to Roll Your Options Positions?
A UK financial trader dubbed the ringleader of an interest rate manipulation scandal loses an appeal
NYSE:CM

Canadian Imperial Bank of Commerce (CM) Stock Price, News & Analysis

$50.06
-0.24 (-0.48%)
(As of 03/27/2024 ET)
Today's Range
$49.45
$50.07
50-Day Range
$44.29
$50.64
52-Week Range
$34.35
$51.14
Volume
1.45 million shs
Average Volume
2.31 million shs
Market Capitalization
$46.65 billion
P/E Ratio
10.34
Dividend Yield
2.56%
Price Target
$63.00

Canadian Imperial Bank of Commerce MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.56 Rating Score
Upside/​Downside
25.8% Upside
$63.00 Price Target
Short Interest
Bearish
1.70% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-0.47
Upright™ Environmental Score
News Sentiment
0.66mentions of Canadian Imperial Bank of Commerce in the last 14 days
Based on 4 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
4.76%
From $5.04 to $5.28 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.61 out of 5 stars

Finance Sector

77th out of 861 stocks

Commercial Banks, Not Elsewhere Classified Industry

4th out of 28 stocks

CM stock logo

About Canadian Imperial Bank of Commerce Stock (NYSE:CM)

Canadian Imperial Bank of Commerce was formed in 1961 with the merger of the Canadian Bank of Commerce and Imperial Bank of Canada. The merger, the largest in Canadian banking history, gave the Canadian Imperial Bank of Commerce its name but not its true origin. The founding banks originated in 1867 and 1873 respectively and were among the country’s oldest surviving banks at the time. The business is headquartered in Toronto and located at the iconic CIBC Square in downtown Toronto.

Today, the Canadian Imperial Bank of Commerce is a diversified international financial institution serving more than 13 million clients globally. It provides a full range of financial products and services for individuals, families, businesses and institutions in North America and around the world. The company’s goal is to create value by providing consistent returns and sustainable growth. The company maintains a lower-than-average credit profile to help achieve that goal and keep it in a position to take advantage of strategic opportunities.

The Canadian Imperial Bank of Commerce operates in 4 segments that include Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, and Capital Markets. In late 2022 the company brought in over C$20 billion in revenue, had more than C$678 billion in deposits and had more than C$896 million in total assets. In regard to the bank’s health, it carries high AA or A+ investment grade credit ratings from all the major credit rating agencies.

The company’s products and services include personal and business deposit accounts, checking, savings, credit cards, and loans. Loans include mortgages, business credit, student loans, and agri-business. Other products include investment services, wealth management, and insurance services. Canadian Imperial Bank of Commerce’s digital platform, which was the first launched in Canada, is award-winning and ranked #1 for customer satisfaction by J.D. Power.

Canadian Imperial Bank of Commerce’s strategy is built on 3 drivers. The first is focusing on high-growth, high-traffic client demographics, the second is elevating the customer experience through digital and the third is investing in differentiators within fast-growing markets. Canadian Imperial Bank of Commerce is also a committed dividend payer that has not only paid a dividend every year since its inception but increases it on a regular basis as well. The company is also well-known for its long-term dividend growth and has a 15-year CAGR above 5.0%.

Canadian Imperial Bank of Commerce is committed to sustainability. The company’s efforts won it a spot on Canada’s Greenest Employers list for 2022 as well as recognition as Best Diversity Employer and for gender equality.

CM Stock Price History

CM Stock News Headlines

3 Stocks to Buy for Both Dividends and Value in March
Trump’s “Tax Free” Retirement Strategy
Since 1924 — over one hundred years — the US dollar has lost nearly 18x its value. In other words, a dollar back then would buy $17.82 worth of goods in today's money. If you're planning on retiring any time soon…This poses a real problem.
Trump’s “Tax Free” Retirement Strategy
Since 1924 — over one hundred years — the US dollar has lost nearly 18x its value. In other words, a dollar back then would buy $17.82 worth of goods in today's money. If you're planning on retiring any time soon…This poses a real problem.
Better Buy: Scotiabank Stock or CIBC?
New Strong Buy Stocks for January 24th
CIBC named one of Canada's Top Employers for Young People
Canadian Imperial Bank of Commerce
See More Headlines
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Company Calendar

Ex-Dividend for 1/29 Dividend
12/27/2023
Dividend Payable
1/29/2024
Last Earnings
2/29/2024
Ex-Dividend for 4/29 Dividend
3/27/2024
Today
3/28/2024
Dividend Payable
4/29/2024
Next Earnings (Estimated)
5/23/2024
Fiscal Year End
10/31/2024

Industry, Sector and Symbol

Sector
Finance
Industry
Commercial banks, not elsewhere classified
Sub-Industry
N/A
Employees
48,074
Year Founded
1867

Price Target and Rating

Average Stock Price Target
$63.00
High Stock Price Target
$67.00
Low Stock Price Target
$57.00
Potential Upside/Downside
+25.8%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.56
Research Coverage
9 Analysts

Profitability

Net Income
$3.70 billion
Pretax Margin
13.68%

Debt

Sales & Book Value

Annual Sales
$41.16 billion
Cash Flow
$6.00 per share
Book Value
$39.24 per share

Miscellaneous

Free Float
N/A
Market Cap
$46.65 billion
Optionable
Optionable
Beta
1.05

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Should I Buy Canadian Imperial Bank of Commerce Stock? CM Pros and Cons Explained

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Canadian Imperial Bank of Commerce was last updated on Wednesday, March 27, 2024 at 11:24 PM.

Pros

Here are some ways that investors could benefit from investing in Canadian Imperial Bank of Commerce:

  • Strong institutional investor interest: Major institutions like Norges Bank and Goldman Sachs have significantly increased their stakes in the company, indicating confidence in its performance and potential growth.
  • Positive analyst ratings: The company has received favorable ratings from multiple research analysts, with a consensus rating of "Moderate Buy" and a target price of $63.00, suggesting a positive outlook for the stock.
  • Diversified financial services: Canadian Imperial Bank of Commerce offers a wide range of financial products and services to various client segments, providing stability and potential for revenue growth.
  • Stable industry presence: As a commercial bank with a long history dating back to 1867, the bank has established a strong presence in the industry, which can be reassuring for investors.
  • Attractive stock price: With the current stock price at a competitive level, investors may see an opportunity for potential capital appreciation in the future.

Cons

Investors should be bearish about investing in Canadian Imperial Bank of Commerce for these reasons:

  • Market volatility: The financial sector can be subject to market fluctuations and economic uncertainties, which may impact the bank's performance and stock value.
  • Regulatory challenges: Being a financial institution, Canadian Imperial Bank of Commerce is subject to strict regulations and compliance requirements, which could pose challenges and affect profitability.
  • Competition: The banking industry is highly competitive, with other major players vying for market share, potentially limiting Canadian Imperial Bank of Commerce's growth opportunities.
  • Interest rate risks: Changes in interest rates can impact the bank's profitability, especially if there are sudden shifts in the economic environment affecting borrowing and lending activities.
  • Global economic conditions: The bank's international operations expose it to global economic conditions, geopolitical risks, and currency fluctuations, which could affect its financial performance.

CM Stock Analysis - Frequently Asked Questions

Should I buy or sell Canadian Imperial Bank of Commerce stock right now?

9 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Canadian Imperial Bank of Commerce in the last year. There are currently 1 sell rating, 2 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" CM shares.
View CM analyst ratings
or view top-rated stocks.

What is Canadian Imperial Bank of Commerce's stock price target for 2024?

9 Wall Street analysts have issued 12 month target prices for Canadian Imperial Bank of Commerce's shares. Their CM share price targets range from $57.00 to $67.00. On average, they predict the company's stock price to reach $63.00 in the next twelve months. This suggests a possible upside of 25.8% from the stock's current price.
View analysts price targets for CM
or view top-rated stocks among Wall Street analysts.

How have CM shares performed in 2024?

Canadian Imperial Bank of Commerce's stock was trading at $48.14 on January 1st, 2024. Since then, CM shares have increased by 4.0% and is now trading at $50.06.
View the best growth stocks for 2024 here
.

Are investors shorting Canadian Imperial Bank of Commerce?

Canadian Imperial Bank of Commerce saw a increase in short interest in March. As of March 15th, there was short interest totaling 15,900,000 shares, an increase of 61.3% from the February 29th total of 9,860,000 shares. Based on an average trading volume of 2,010,000 shares, the short-interest ratio is presently 7.9 days. Currently, 1.7% of the company's stock are short sold.
View Canadian Imperial Bank of Commerce's Short Interest
.

When is Canadian Imperial Bank of Commerce's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 23rd 2024.
View our CM earnings forecast
.

How were Canadian Imperial Bank of Commerce's earnings last quarter?

Canadian Imperial Bank of Commerce (NYSE:CM) posted its quarterly earnings results on Thursday, February, 29th. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.10. The bank earned $4.60 billion during the quarter, compared to analysts' expectations of $4.47 billion. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a trailing twelve-month return on equity of 13.07%.

How often does Canadian Imperial Bank of Commerce pay dividends? What is the dividend yield for Canadian Imperial Bank of Commerce?

Canadian Imperial Bank of Commerce announced a quarterly dividend on Friday, March 1st. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.6634 per share on Monday, April 29th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from the stock's previous quarterly dividend of $0.66.
Read our dividend analysis for CM
.

Is Canadian Imperial Bank of Commerce a good dividend stock?

Canadian Imperial Bank of Commerce (NYSE:CM) pays an annual dividend of $1.90 per share and currently has a dividend yield of 3.80%. The dividend payout ratio is 39.26%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, CM will have a dividend payout ratio of 35.98% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for CM.

When did Canadian Imperial Bank of Commerce's stock split?

Shares of Canadian Imperial Bank of Commerce split on Monday, May 16th 2022. The 2-1 split was announced on Friday, February 25th 2022. The newly created shares were distributed to shareholders after the closing bell on Friday, May 13th 2022. An investor that had 100 shares of stock prior to the split would have 200 shares after the split.

What is Victor Dodig's approval rating as Canadian Imperial Bank of Commerce's CEO?

1,528 employees have rated Canadian Imperial Bank of Commerce Chief Executive Officer Victor Dodig on Glassdoor.com. Victor Dodig has an approval rating of 86% among the company's employees.

What other stocks do shareholders of Canadian Imperial Bank of Commerce own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Canadian Imperial Bank of Commerce investors own include AT&T (T), Bank of Nova Scotia (BNS), Toronto-Dominion Bank (TD), Pfizer (PFE), Royal Bank of Canada (RY), Verizon Communications (VZ), Cisco Systems (CSCO), Enbridge (ENB), AbbVie (ABBV) and Simon Property Group (SPG).

Who are Canadian Imperial Bank of Commerce's major shareholders?

Canadian Imperial Bank of Commerce's stock is owned by many different retail and institutional investors. Top institutional investors include Vanguard Group Inc. (3.78%), Vanguard Group Inc. (3.78%), Bank of Nova Scotia (2.67%), TD Asset Management Inc (2.42%), National Bank of Canada FI (1.38%) and CIBC Asset Management Inc (1.25%).

How do I buy shares of Canadian Imperial Bank of Commerce?

Shares of CM stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Does Canadian Imperial Bank of Commerce have any subsidiaries?
The following companies are subsidiares of Canadian Imperial Bank of Commerce: CIBC Asset Management Inc., CIBC Australia Ltd, CIBC BA Limited, CIBC Bancorp USA Inc., CIBC Bank USA, CIBC Capital Markets (Europe) S.A., CIBC Cayman Bank Limited, CIBC Cayman Capital Limited, CIBC Cayman Holdings Limited, CIBC Cayman Reinsurance Limited, CIBC Delaware Trust Company, CIBC Fund Administration Services (Asia) Limited, CIBC Inc., CIBC Investments (Cayman) Limited, CIBC Investor Services Inc., CIBC Life Insurance Company Limited, CIBC Mortgages Inc., CIBC National Trust Company, CIBC Private Wealth Advisors Inc., CIBC Private Wealth Group LLC, CIBC Securities Inc., CIBC Trust Corporation, CIBC Wood Gundy Financial Services (Quebec) Inc., CIBC Wood Gundy Financial Services Inc., CIBC World Markets (Japan) Inc., CIBC World Markets Corp., CIBC World Markets Inc., Canadian Imperial Holdings Inc., Cleary Gull, FirstCaribbean International Bank (Bahamas) Limited, FirstCaribbean International Bank (Barbados) Limited, FirstCaribbean International Bank (Cayman) Limited, FirstCaribbean International Bank (Curacao) N.V., FirstCaribbean International Bank (Jamaica) Limited, FirstCaribbean International Bank (Trinidad and Tobago) Limited, FirstCaribbean International Bank Limited, FirstCaribbean International Bank and Trust Company (Cayman) Limited, FirstCaribbean International Finance Corporation (Leeward & Windward) Limited, FirstCaribbean International Finance Corporation (Netherlands Antilles) N.V., FirstCaribbean International Securities Limited, FirstCaribbean International Trust Company (Bahamas) Limited, FirstCaribbean International Wealth Management Bank (Barbados) Limited, Geneva Advisors, INTRIA Items Inc., Lowenhaupt Global Advisors, PrivateBancorp, Sentry Insurance Brokers Ltd., and Wellington Financial.
Read More
This page (NYSE:CM) was last updated on 3/28/2024 by MarketBeat.com Staff

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