Canadian Imperial Bank of Commerce Stocks (NYSE:CM – Get a rating) (TSE:CM) received an average recommendation of “Hold” by the fourteen analysts who cover the company, reports Marketbeat Ratings. Six analysts rated the stock with a hold recommendation and four gave the company a buy recommendation. The 12-month average price target among brokerages that have quoted the stock over the past year is $83.71.
A number of analysts have recently released reports on the company. TD Securities lowered its price target on Canadian Imperial Bank of Commerce from C$82.00 to C$78.00 and set a “buy” rating on the stock in a Friday 27 research note. may. National Bankshares raised its price target on Canadian Imperial Bank of Commerce from C$83.50 to C$84.00 in a Friday, May 27 report. StockNews.com upgraded the Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report released Thursday. BMO Capital Markets lowered its target price on the Canadian Imperial Bank of Commerce from C$85.00 to C$83.00 in a Friday, May 27 research note. Finally, Bank of America downgraded the Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating in a Tuesday, May 17 research report.
Canadian Imperial Bank of Commerce stock opened at $49.03 on Friday. The stock has a 50-day moving average of $53.38 and a 200-day moving average of $58.70. The company has a debt ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.03. The Canadian Imperial Bank of Commerce has a one-year low of $46.87 and a one-year high of $66.24. The stock has a market capitalization of $44.25 billion, a PE ratio of 8.72, a growth price-earnings ratio of 2.10 and a beta of 1.04.
Canadian Imperial Bank of Commerce (NYSE:CM – Get a rating) (TSE:CM) last announced its quarterly results on Thursday, May 26. The bank reported earnings per share of $1.77 for the quarter, missing the consensus estimate of $2.92 per ($1.15). The Canadian Imperial Bank of Commerce posted a net margin of 26.74% and a return on equity of 16.24%. The company posted revenue of $5.38 billion for the quarter, versus $5.32 billion expected by analysts. In the same quarter a year earlier, the company posted earnings of $2.85 per share. The company’s revenues increased by 9.0% compared to the same quarter last year. As a group, sell-side analysts expect Canadian Imperial Bank of Commerce to post 5.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 28. Shareholders of record on Tuesday, June 28 will receive a dividend of $0.645. This is an increase from the Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.63. This represents a dividend of $2.58 on an annualized basis and a yield of 5.26%. The ex-dividend date is Monday, June 27. The Canadian Imperial Bank of Commerce’s payout ratio is currently 46.62%.
Several hedge funds and other institutional investors have recently changed their CM holdings. Capital World Investors acquired a new equity stake in Canadian Imperial Bank of Commerce during Q1 at a value of $938,627,000. Norges Bank purchased a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter, valued at approximately $478,882,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Canadian Imperial Bank of Commerce shares by 106.1% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,348,572 shares of the bank valued at $273,973,000 after purchasing an additional 1,209,040 shares during the period. Goldman Sachs Group Inc. increased its stake in Canadian Imperial Bank of Commerce shares by 314.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,480,375 shares of the bank valued at $172,553,000 after purchasing an additional 1,122,833 shares during the period. Finally, the Bank of Nova Scotia increased its stake in the Canadian Imperial Bank of Commerce by 9.2% during the first quarter. The Bank of Nova Scotia now owns 12,287,509 shares of the bank worth $1,491,940,000 after purchasing an additional 1,037,761 shares during the period. Institutional investors and hedge funds hold 43.66% of the company’s shares.
About Canadian Imperial Bank of Commerce (Get a rating)
The Canadian Imperial Bank of Commerce, a diversified financial institution, offers a variety of financial products and services to retail, business, public sector and institutional clients in Canada, the United States and abroad. The company operates through four strategic business units: Canadian Personal and Commercial Banking; Commercial banking and wealth management in Canada; WE
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