Canaccord Genuity Reiterates “Buy” Rating for Canadian Imperial Bank of Commerce (CM)

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM)‘s stock had its “buy” rating reiterated by equities research analysts at Canaccord Genuity in a research report issued to clients and investors on Thursday.

A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Monday, November 19th. Barclays reiterated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, November 16th. ValuEngine lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. Finally, TheStreet lowered Canadian Imperial Bank of Commerce from a “b-” rating to a “c+” rating in a research report on Wednesday, October 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $122.00.

Shares of CM stock opened at $85.30 on Thursday. The company has a market capitalization of $37.93 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 1.61 and a beta of 1.18. Canadian Imperial Bank of Commerce has a fifty-two week low of $84.03 and a fifty-two week high of $100.01. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, August 23rd. The bank reported $3.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.22 by $0.86. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. Canadian Imperial Bank of Commerce had a return on equity of 17.77% and a net margin of 21.27%. During the same period last year, the company earned $2.77 EPS. Research analysts forecast that Canadian Imperial Bank of Commerce will post 9.26 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HighPoint Advisor Group LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the third quarter valued at approximately $195,000. Mawer Investment Management Ltd. bought a new stake in Canadian Imperial Bank of Commerce in the second quarter worth $205,000. Providence Wealth Advisors LLC bought a new stake in Canadian Imperial Bank of Commerce in the third quarter worth $214,000. Evercore Wealth Management LLC bought a new stake in Canadian Imperial Bank of Commerce in the third quarter worth $216,000. Finally, Iberiabank Corp bought a new stake in Canadian Imperial Bank of Commerce in the third quarter worth $217,000. Institutional investors own 46.36% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

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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Analyst Recommendations for Canadian Imperial Bank of Commerce (NYSE:CM)

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