Canadian Imperial Bank of Commerce (CM) Given Hold Rating at BMO Capital Markets

BMO Capital Markets reissued their hold rating on shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in a research report sent to investors on Thursday, TipRanks reports.

A number of other analysts have also issued reports on CM. ValuEngine upgraded shares of Canadian Imperial Bank of Commerce from a sell rating to a hold rating in a research note on Tuesday, February 5th. Canaccord Genuity reiterated an average rating and set a $125.00 price target on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, February 20th. Scotiabank reiterated an average rating and set a $126.00 price target on shares of Canadian Imperial Bank of Commerce in a research note on Friday, February 22nd. Barclays restated an average rating and set a $123.00 target price on shares of Canadian Imperial Bank of Commerce in a research note on Friday, March 1st. Finally, Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a strong-buy rating to a hold rating in a research note on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Canadian Imperial Bank of Commerce has an average rating of Hold and an average target price of $123.83.

Shares of NYSE:CM opened at $77.84 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $34.57 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 5.11 and a beta of 1.16. Canadian Imperial Bank of Commerce has a 1 year low of $72.96 and a 1 year high of $96.98.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Wednesday, May 22nd. The bank reported $2.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.22 by $0.75. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.36 billion. Canadian Imperial Bank of Commerce had a net margin of 19.44% and a return on equity of 16.17%. During the same period in the prior year, the firm earned $2.95 earnings per share. Analysts anticipate that Canadian Imperial Bank of Commerce will post 9.14 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, June 27th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 5.34%. Canadian Imperial Bank of Commerce’s payout ratio is 45.50%.

Hedge funds have recently added to or reduced their stakes in the stock. Heritage Wealth Advisors purchased a new stake in shares of Canadian Imperial Bank of Commerce during the first quarter worth approximately $31,000. CWM LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 1,524.0% during the first quarter. CWM LLC now owns 406 shares of the bank’s stock worth $32,000 after buying an additional 381 shares during the period. Liberty Wealth Management LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $31,000. Advisory Services Network LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 108.0% during the fourth quarter. Advisory Services Network LLC now owns 443 shares of the bank’s stock worth $33,000 after buying an additional 230 shares during the period. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 45.93% of the company’s stock.

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 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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