Canadian Imperial Bank of Commerce (NYSE:CM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $63.00.

Several research analysts recently weighed in on CM shares. Scotiabank raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, February 20th. Barclays assumed coverage on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They issued an “underweight” rating on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They issued a “buy” rating on the stock.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Institutional investors have recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at $33,000. Glassman Wealth Services grew its stake in shares of Canadian Imperial Bank of Commerce by 57.5% in the fourth quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock valued at $33,000 after acquiring an additional 253 shares in the last quarter. Janiczek Wealth Management LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 34.9% in the fourth quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock valued at $41,000 after acquiring an additional 222 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 277.9% in the first quarter. NewEdge Advisors LLC now owns 1,126 shares of the bank’s stock valued at $48,000 after acquiring an additional 828 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 574.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock valued at $51,000 after acquiring an additional 908 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Trading Up 0.4 %

CM opened at $47.22 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $44.27 billion, a PE ratio of 9.76, a PEG ratio of 2.21 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 1-year low of $34.35 and a 1-year high of $51.14. The firm has a 50-day moving average price of $48.38 and a two-hundred day moving average price of $44.19.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, February 29th. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.47 billion. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 5.04 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, March 28th will be issued a dividend of $0.6634 per share. This represents a $2.65 dividend on an annualized basis and a yield of 5.62%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 26.45%.

About Canadian Imperial Bank of Commerce

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