Canadian Imperial Bank of Commerce (NYSE:CM) Sees Strong Trading Volume

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) shares saw an uptick in trading volume on Tuesday . 21,756 shares were traded during trading, a decline of 97% from the previous session’s volume of 743,883 shares.The stock last traded at $50.56 and had previously closed at $50.88.

CM has been the subject of a number of research analyst reports. Credit Suisse Group initiated coverage on Canadian Imperial Bank of Commerce in a research report on Friday, May 20th. They issued an “outperform” rating and a $80.00 target price for the company. National Bankshares upped their target price on Canadian Imperial Bank of Commerce from C$83.50 to C$84.00 in a research report on Friday, May 27th. Scotiabank increased their price objective on Canadian Imperial Bank of Commerce from C$83.00 to C$91.00 in a research report on Friday, February 18th. Stifel Nicolaus cut their target price on shares of Canadian Imperial Bank of Commerce from C$87.00 to C$86.00 and set a “hold” rating on the stock in a research note on Friday, April 8th. Finally, BMO Capital Markets cut their target price on shares of Canadian Imperial Bank of Commerce from C$85.00 to C$83.00 in a research note on Friday, May 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.71.

The stock has a market capitalization of $45.38 billion, a P/E ratio of 9.05, a PEG ratio of 2.21 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50 day simple moving average is $56.55 and its 200-day simple moving average is $59.63.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 28th. Shareholders of record on Tuesday, June 28th will be paid a $0.645 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.63. This represents a $2.58 annualized dividend and a yield of 5.13%. The ex-dividend date is Monday, June 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 45.20%.

Several institutional investors have recently added to or reduced their stakes in CM. Avantax Advisory Services Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 1.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 4,502 shares of the bank’s stock worth $525,000 after buying an additional 80 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Canadian Imperial Bank of Commerce by 3.8% during the 3rd quarter. Captrust Financial Advisors now owns 2,521 shares of the bank’s stock worth $284,000 after acquiring an additional 93 shares during the period. Wealth Alliance lifted its holdings in shares of Canadian Imperial Bank of Commerce by 2.1% during the 1st quarter. Wealth Alliance now owns 4,775 shares of the bank’s stock worth $581,000 after acquiring an additional 97 shares during the period. NEXT Financial Group Inc increased its position in Canadian Imperial Bank of Commerce by 68.5% in the 4th quarter. NEXT Financial Group Inc now owns 246 shares of the bank’s stock valued at $29,000 after acquiring an additional 100 shares during the period. Finally, Quadrant Capital Group LLC increased its position in shares of Canadian Imperial Bank of Commerce by 4.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,423 shares of the bank’s stock worth $282,000 after buying an additional 102 shares during the period. Institutional investors own 43.66% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile (NYSE:CM)

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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