Canadian Imperial Bank of Commerce (NYSE:CM) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have received an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $167.00.

A number of research firms recently weighed in on CM. Barclays reaffirmed an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday. Weiss Ratings raised shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, May 22nd. Scotiabank lowered shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research note on Monday. Zacks Research lowered shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th.

Canadian Imperial Bank of Commerce Stock Up 2.4%

NYSE:CM opened at $108.55 on Wednesday. Canadian Imperial Bank of Commerce has a 1-year low of $67.30 and a 1-year high of $117.05. The company has a 50-day moving average of $106.15 and a 200 day moving average of $97.67. The firm has a market cap of $99.31 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 1.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, 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 data on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The company had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, research analysts anticipate that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Monday, June 29th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 3.9%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 43.13%.

Institutional Trading of Canadian Imperial Bank of Commerce

Hedge funds have recently modified their holdings of the company. EFG International AG purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at about $35,000. Larson Financial Group LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after buying an additional 219 shares during the last quarter. Lodestone Wealth Management LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at about $37,000. Guerra Advisors Inc purchased a new stake in shares of Canadian Imperial Bank of Commerce during the third quarter valued at about $35,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the first quarter valued at about $54,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.