Canadian Imperial Bank of Commerce (CM) Sets New 1-Year Low at $84.55

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $84.55 and last traded at $84.56, with a volume of 11654 shares. The stock had previously closed at $86.17.

A number of analysts recently issued reports on CM shares. ValuEngine raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Monday, August 13th. TheStreet raised Canadian Imperial Bank of Commerce from a “c” rating to a “b-” rating in a report on Thursday, August 23rd. Finally, Barclays reaffirmed a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, November 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $123.00.

The firm has a market cap of $37.23 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 1.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.05 and a quick ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, August 23rd. The bank reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.86. Canadian Imperial Bank of Commerce had a return on equity of 17.77% and a net margin of 21.27%. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the firm posted $2.77 EPS. As a group, analysts predict that Canadian Imperial Bank of Commerce will post 9.32 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 29th. Shareholders of record on Friday, September 28th were issued a $1.0412 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $4.16 annualized dividend and a dividend yield of 4.86%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 46.91%.

Large investors have recently added to or reduced their stakes in the business. Morgan Stanley increased its position in shares of Canadian Imperial Bank of Commerce by 72.9% during the 3rd quarter. Morgan Stanley now owns 953,669 shares of the bank’s stock valued at $89,426,000 after purchasing an additional 402,072 shares during the last quarter. Nordea Investment Management AB bought a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $197,655,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of Canadian Imperial Bank of Commerce by 14.6% during the 3rd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 796,100 shares of the bank’s stock valued at $96,352,000 after purchasing an additional 101,400 shares during the last quarter. Banco de Sabadell S.A bought a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $1,333,000. Finally, AQR Capital Management LLC increased its position in shares of Canadian Imperial Bank of Commerce by 19.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,757,283 shares of the bank’s stock valued at $164,540,000 after purchasing an additional 288,532 shares during the last quarter. 46.36% of the stock is currently owned by hedge funds and other institutional investors.

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About Canadian Imperial Bank of Commerce (NYSE:CM)

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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