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 been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $63.00.

Several equities research analysts have recently weighed in on the stock. Scotiabank upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, February 20th. Jefferies Financial Group assumed coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. Finally, Barclays started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They set an “underweight” rating on the stock.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Hedge funds have recently made changes to their positions in the business. Bruce G. Allen Investments LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $33,000. Glassman Wealth Services increased its stake in Canadian Imperial Bank of Commerce by 57.5% during the 4th quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock worth $33,000 after buying an additional 253 shares during the period. Janiczek Wealth Management LLC increased its stake in Canadian Imperial Bank of Commerce by 34.9% during the 4th quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock worth $41,000 after buying an additional 222 shares during the period. EverSource Wealth Advisors LLC increased its stake in Canadian Imperial Bank of Commerce by 574.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock worth $51,000 after buying an additional 908 shares during the period. Finally, NewEdge Advisors LLC increased its stake in Canadian Imperial Bank of Commerce by 277.9% during the 1st quarter. NewEdge Advisors LLC now owns 1,126 shares of the bank’s stock worth $48,000 after buying an additional 828 shares during the period. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 0.4 %

Canadian Imperial Bank of Commerce stock opened at $47.22 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. The stock’s fifty day simple moving average is $48.38 and its 200-day simple moving average is $44.19. The firm has a market capitalization of $44.27 billion, a P/E ratio of 9.76, a P/E/G ratio of 2.21 and a beta of 1.06. Canadian Imperial Bank of Commerce has a twelve month low of $34.35 and a twelve month high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, February 29th. The bank reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.47 billion. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 5.04 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, March 28th will be paid a $0.6634 dividend. This represents a $2.65 dividend on an annualized basis and a dividend yield of 5.62%. The ex-dividend date is Wednesday, March 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 26.45%.

Canadian Imperial Bank of Commerce Company Profile

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.