Analysts’ Weekly Ratings Updates for Canadian Imperial Bank of Commerce (CM)

Several analysts have recently updated their ratings and price targets for Canadian Imperial Bank of Commerce (NYSE: CM):

  • 6/7/2022 – Canadian Imperial Bank of Commerce was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 5/27/2022 – Canadian Imperial Bank of Commerce had its price target lowered by analysts at TD Securities from C$82.00 to C$78.00. They now have a “buy” rating on the stock.
  • 5/27/2022 – Canadian Imperial Bank of Commerce had its price target lowered by analysts at BMO Capital Markets from C$85.00 to C$83.00.
  • 5/27/2022 – Canadian Imperial Bank of Commerce had its price target raised by analysts at National Bankshares, Inc. from C$83.50 to C$84.00.
  • 5/20/2022 – Canadian Imperial Bank of Commerce is now covered by analysts at Credit Suisse Group AG. They set an “outperform” rating and a $80.00 price target on the stock.
  • 5/17/2022 – Canadian Imperial Bank of Commerce was downgraded by analysts at Bank of America Co. from a “buy” rating to a “neutral” rating.

NYSE:CM opened at $50.88 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. Canadian Imperial Bank of Commerce has a 1-year low of $50.53 and a 1-year high of $66.24. The firm has a 50-day moving average of $56.55 and a two-hundred day moving average of $59.63. The stock has a market cap of $45.92 billion, a P/E ratio of 9.05, a PEG ratio of 2.21 and a beta of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) last issued its quarterly earnings results on Thursday, May 26th. The bank reported $1.77 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.15). Canadian Imperial Bank of Commerce had a return on equity of 16.24% and a net margin of 26.74%. The company had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the previous year, the business posted $2.85 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 6.11 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 28th. Stockholders of record on Tuesday, June 28th will be given a dividend of $0.645 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.63. The ex-dividend date is Monday, June 27th. This represents a $2.58 annualized dividend and a dividend yield of 5.07%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.20%.

Several hedge funds have recently modified their holdings of CM. NEXT Financial Group Inc lifted its position in shares of Canadian Imperial Bank of Commerce by 68.5% during the fourth quarter. NEXT Financial Group Inc now owns 246 shares of the bank’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in Canadian Imperial Bank of Commerce during the first quarter worth about $41,000. CWM LLC acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $46,000. CENTRAL TRUST Co acquired a new stake in Canadian Imperial Bank of Commerce during the first quarter worth about $55,000. Finally, Fieldpoint Private Securities LLC raised its stake in Canadian Imperial Bank of Commerce by 143.7% during the first quarter. Fieldpoint Private Securities LLC now owns 519 shares of the bank’s stock worth $63,000 after acquiring an additional 306 shares during the period. 43.66% of the stock is currently owned by institutional investors and hedge funds.

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 Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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