Analysts at Dundee Securities began coverage on shares of Canadian Imperial Bank of Commerce (NYSE:CM) in a report released on Wednesday. The brokerage set a “buy” rating on the stock.

A number of other equities analysts also recently issued reports on CM. Canaccord Genuity reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 26th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $106.00 price objective (down previously from $107.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, May 27th. RBC Capital Markets reiterated a “sector perform” rating and issued a $112.00 price objective (up previously from $104.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 26th. Desjardins reiterated a “buy” rating and issued a $110.00 price objective (up previously from $109.00) on shares of Canadian Imperial Bank of Commerce in a report on Monday, August 29th. Finally, Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Canadian Imperial Bank of Commerce has an average rating of “Hold” and an average price target of $101.00.

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

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) opened at 76.65 on Wednesday. The firm has a market cap of $30.26 billion, a price-to-earnings ratio of 9.80 and a beta of 1.03. Canadian Imperial Bank of Commerce has a 52 week low of $56.29 and a 52 week high of $82.60. The firm’s 50 day moving average is $77.90 and its 200-day moving average is $76.99.

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Canadian Imperial Bank of Commerce (NYSE:CM) last announced its earnings results on Thursday, August 25th. The company reported $2.67 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.32. Canadian Imperial Bank of Commerce had a return on equity of 18.83% and a net margin of 22.51%. During the same quarter in the prior year, the firm earned $2.45 earnings per share. Equities research analysts predict that Canadian Imperial Bank of Commerce will post $7.66 EPS for the current year.

The company also recently announced a dividend, which will be paid on Friday, October 28th. Shareholders of record on Wednesday, September 28th will be given a $0.928 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous dividend of $0.86. The ex-dividend date of this dividend is Monday, September 26th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 47.19%.

A number of hedge funds and other institutional investors have recently made changes to their positions in CM. Howe & Rusling Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 15.6% in the second quarter. Howe & Rusling Inc. now owns 76,108 shares of the company’s stock valued at $5,713,000 after buying an additional 10,279 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 32.4% in the second quarter. Hillsdale Investment Management Inc. now owns 41,950 shares of the company’s stock valued at $3,148,000 after buying an additional 10,270 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Canadian Imperial Bank of Commerce by 1.8% in the second quarter. Legal & General Group Plc now owns 1,924,134 shares of the company’s stock valued at $143,775,000 after buying an additional 34,481 shares during the last quarter. Numeric Investors LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the second quarter valued at about $635,000. Finally, AHL Partners LLP boosted its position in shares of Canadian Imperial Bank of Commerce by 84.4% in the second quarter. AHL Partners LLP now owns 6,395 shares of the company’s stock valued at $480,000 after buying an additional 2,927 shares during the last quarter. 52.59% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

5 Day Chart for NYSE:CM

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