Canadian Imperial Bank of Commerce (NYSE:CM) Receives Consensus Rating of “Hold” from Analysts

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have been assigned an average rating of “Hold” from the eleven analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $108.25.

Several equities research analysts have issued reports on CM shares. Credit Suisse Group lowered their price target on shares of Canadian Imperial Bank of Commerce from $105.00 to $104.00 and set a “neutral” rating on the stock in a report on Friday. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a report on Tuesday. Barclays reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, August 22nd. Royal Bank of Canada reissued a “hold” rating and issued a $124.00 target price (down previously from $128.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 23rd. Finally, Scotiabank reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, August 20th.

Shares of NYSE:CM traded up $0.29 during trading on Monday, hitting $82.90. 597,306 shares of the stock were exchanged, compared to its average volume of 445,017. Canadian Imperial Bank of Commerce has a 1-year low of $72.96 and a 1-year high of $87.62. The company has a market capitalization of $36.94 billion, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17. The company’s fifty day simple moving average is $86.12 and its 200-day simple moving average is $80.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.87 and a current ratio of 0.87.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, December 5th. The bank reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.52. The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.76 billion. Canadian Imperial Bank of Commerce had a return on equity of 15.92% and a net margin of 18.39%. Canadian Imperial Bank of Commerce’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.00 earnings per share. On average, research analysts forecast that Canadian Imperial Bank of Commerce will post 9.2 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a $1.0908 dividend. This represents a $4.36 annualized dividend and a yield of 5.26%. The ex-dividend date of this dividend is Thursday, December 26th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 46.36%.

A number of large investors have recently made changes to their positions in the business. Flagship Harbor Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 78.3% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 451 shares of the bank’s stock valued at $37,000 after purchasing an additional 198 shares in the last quarter. Private Capital Group LLC boosted its position in Canadian Imperial Bank of Commerce by 116.9% in the second quarter. Private Capital Group LLC now owns 616 shares of the bank’s stock valued at $54,000 after buying an additional 332 shares in the last quarter. Liberty Wealth Management LLC grew its stake in Canadian Imperial Bank of Commerce by 50.9% during the third quarter. Liberty Wealth Management LLC now owns 637 shares of the bank’s stock worth $53,000 after buying an additional 215 shares during the last quarter. CWM LLC grew its stake in Canadian Imperial Bank of Commerce by 86.7% during the second quarter. CWM LLC now owns 758 shares of the bank’s stock worth $60,000 after buying an additional 352 shares during the last quarter. Finally, Cornerstone Advisors Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 34.1% during the third quarter. Cornerstone Advisors Inc. now owns 1,054 shares of the bank’s stock worth $87,000 after buying an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 44.29% 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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