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

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $167.00.

Several analysts have recently weighed in on the stock. Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Weiss Ratings lowered shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 4th. Jefferies Financial Group reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Raymond James Financial reissued a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Finally, Scotiabank restated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, June 16th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its stake in Canadian Imperial Bank of Commerce by 7.0% during the first quarter. Parallel Advisors LLC now owns 3,994 shares of the bank’s stock worth $378,000 after buying an additional 261 shares during the period. NewEdge Advisors LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 5,304.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,216 shares of the bank’s stock valued at $210,000 after acquiring an additional 2,175 shares during the period. Bank of America Corp DE raised its stake in shares of Canadian Imperial Bank of Commerce by 0.5% in the 1st quarter. Bank of America Corp DE now owns 2,726,487 shares of the bank’s stock valued at $258,335,000 after acquiring an additional 13,250 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 9.5% in the 1st quarter. Janus Henderson Group PLC now owns 214,595 shares of the bank’s stock worth $20,303,000 after acquiring an additional 18,625 shares during the last quarter. Finally, Smith Group Asset Management LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 4.9% in the 1st quarter. Smith Group Asset Management LLC now owns 88,020 shares of the bank’s stock worth $8,340,000 after acquiring an additional 4,080 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Down 0.5%

NYSE CM opened at $113.80 on Friday. The business’s fifty day simple moving average is $111.30 and its 200-day simple moving average is $101.00. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The firm has a market cap of $103.88 billion, a PE ratio of 15.63, a P/E/G ratio of 1.23 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 52 week low of $69.43 and a 52 week high of $117.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Canadian Imperial Bank of Commerce’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 7.37 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

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 given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 43.13%.

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.