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

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have been given a consensus recommendation of “Moderate Buy” by the nine research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $107.50.

Several equities research analysts have issued reports on CM shares. Barclays upgraded Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Thursday, February 19th. Weiss Ratings upgraded Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, March 10th. Raymond James Financial started coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, November 25th. They set a “market perform” rating for the company. Finally, Zacks Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 4th.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

Several institutional investors have recently added to or reduced their stakes in CM. Salem Investment Counselors Inc. bought a new position in Canadian Imperial Bank of Commerce during the 3rd quarter worth about $30,000. Toth Financial Advisory Corp bought a new stake in shares of Canadian Imperial Bank of Commerce in the third quarter valued at about $32,000. AdvisorNet Financial Inc lifted its holdings in shares of Canadian Imperial Bank of Commerce by 300.0% in the third quarter. AdvisorNet Financial Inc now owns 400 shares of the bank’s stock valued at $32,000 after purchasing an additional 300 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after buying an additional 219 shares during the period. Finally, Grey Fox Wealth Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the third quarter worth about $34,000. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at $95.58 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $105.00. The firm has a market capitalization of $88.35 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.00 and a beta of 1.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $96.06 and a 200-day moving average of $88.70.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, February 26th. The bank reported $1.99 EPS for the quarter, topping the consensus estimate of $1.74 by $0.25. The business had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $5.53 billion. Canadian Imperial Bank of Commerce had a return on equity of 15.69% and a net margin of 15.15%.The firm’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.20 EPS. On average, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Friday, March 27th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 44.61%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.