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

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $167.00.

Several equities research analysts recently commented on CM shares. Scotiabank reissued an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, June 16th. Weiss Ratings lowered shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, July 15th. Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Royal Bank Of Canada lifted their target price on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Finally, Zacks Research downgraded shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Canadian Imperial Bank of Commerce by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 43,097,841 shares of the bank’s stock valued at $3,907,078,000 after buying an additional 876,974 shares in the last quarter. FIL Ltd boosted its stake in shares of Canadian Imperial Bank of Commerce by 26.1% during the 4th quarter. FIL Ltd now owns 12,756,323 shares of the bank’s stock worth $1,156,438,000 after acquiring an additional 2,643,495 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of Canadian Imperial Bank of Commerce by 0.5% during the 1st quarter. Bank of Nova Scotia now owns 12,683,488 shares of the bank’s stock worth $1,201,762,000 after acquiring an additional 57,210 shares in the last quarter. Cibc World Market Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 1.3% during the 4th quarter. Cibc World Market Inc. now owns 12,010,183 shares of the bank’s stock valued at $1,088,243,000 after acquiring an additional 158,634 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Canadian Imperial Bank of Commerce by 69.3% during the 4th quarter. Mackenzie Financial Corp now owns 10,800,606 shares of the bank’s stock valued at $986,173,000 after acquiring an additional 4,419,968 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $117.83 on Thursday. The stock has a market cap of $107.56 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.27 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 1 year low of $71.00 and a 1 year high of $122.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $113.82 and a 200 day moving average price of $104.20.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The company had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same period in the prior year, the firm posted $2.05 EPS. The business’s revenue was up 14.0% compared to the same quarter last year. Analysts forecast that Canadian Imperial Bank of Commerce will post 7.37 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. This represents a $4.28 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is presently 42.58%.

About Canadian Imperial Bank of Commerce

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.