Canadian Imperial Bank of Commerce (NYSE: CM) receives consensus recommendation “Hold” from Brokerages
Canada’s Imperial Bank of Commerce (NYSE: CM) (TSE: CM) has received a consensus of “hold” from the thirteen analysts currently reporting on the company, MarketBeat reports. One analyst rated the stock with a sell rating, five with a hold rating, and seven with a buy rating. The average 12-month price target among analysts who updated their coverage of the stock over the past year is $ 106.03.
A number of brokers have recently published reports on CM. Barclays raised its target price on the Canadian Imperial Bank of Commerce from USD 124.00 to USD 128.00 and rated the company as overweight in a research note on Tuesday, February 16. On Friday, December 4th, Canaccord Genuity issued a new buy rating for shares of the Canadian Imperial Bank of Commerce in a research note. Zacks Investment Research upgraded the Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a price target of $ 98.00 for the stock in a research note on Friday, February 5th. Credit Suisse Group raised its target price for the Canadian Imperial Bank of Commerce from USD 105.00 to USD 108.00 and rated the share as “underperform” in a research note on Friday, December 4th. Finally, BMO Capital Markets began reporting on the Canadian Imperial Bank of Commerce in a Research Note on Friday, December 4th. They posted a “market perform” rating on the stock.
A number of institutional investors recently bought and sold shares in the company. Toronto Dominion Bank increased its position in the Canadian Imperial Bank of Commerce by 11.5% in the fourth quarter. Toronto Dominion Bank now holds 15,120,303 shares in the bank valued at $ 1,288,865,000 after acquiring an additional 1,564,081 shares last quarter. CIBC Asset Management Inc increased its stake in the Canadian Imperial Bank of Commerce by 9.3% in the fourth quarter. CIBC Asset Management Inc now holds 5,641,767 shares in the bank valued at $ 480,762,000 after purchasing an additional 480,116 shares last quarter. Healthcare of Ontario’s retirement plan trust fund increased its stake in the Canadian Imperial Bank of Commerce by 8.8% in the fourth quarter. The Healthcare of Ontario Pension Plan’s retirement plan now holds 4,122,168 shares in the bank valued at $ 352,211,000 after purchasing an additional 335,000 shares last quarter. Manufacturers Life Insurance Company increased its stake in the Canadian Imperial Bank of Commerce by 6.1% in the fourth quarter. Manufacturers Life Insurance Company now holds 2,895,171 shares in the bank valued at $ 314,763,000 after purchasing an additional 166,981 shares last quarter. Finally, Manufacturers Life Insurance Company increased its stake in the Canadian Imperial Bank of Commerce by 24.9% in the third quarter. Manufacturers Life Insurance Company now owns 2,728,190 shares in the bank valued at $ 271,537,000 after purchasing an additional 544,095 shares last quarter. Institutional investors and hedge funds currently hold 42.62% of the company’s shares.
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NYSE: CM shares opened at $ 92.40 on Wednesday. The 50-day moving average price for the stock is $ 88.37 and the 200-day moving average price is $ 81.90. The Canadian Imperial Bank of Commerce has a 12-month low of $ 46.45 and a 12-month high of $ 93.04. The stock has a market capitalization of $ 41.38 billion, a P / E of 15.17, a price to earnings ratio of 1.97, and a beta of 1.12. The company has a current rate of 1.04, a quick rate of 1.04, and a leverage ratio of 0.15.
The Canadian Imperial Bank of Commerce (NYSE: CM) (TSE: CM) last announced its quarterly earnings data on Wednesday, December 2nd. The bank reported earnings per share for the quarter of $ 2.79, beating Zacks’ consensus estimate of $ 1.89 by $ 0.90. The Canadian Imperial Bank of Commerce achieved a return on equity of 12.03% and a net margin of 15.06%. The company had revenue of $ 4.60 billion for the quarter, compared to analyst expectations of $ 4.69 billion. For the same period last year, the company posted earnings of $ 2.84 per share. As a group, analysts predict that the Canadian Imperial Bank of Commerce will post an EPS of 8.11 for the current year.
The company recently announced a quarterly dividend, which was paid on Thursday, January 28th. Shareholders of record on Tuesday, December 29th, received a dividend of $ 1.096 per share. The ex-dividend date for this dividend was Monday December 28th. That equates to an annualized dividend of $ 4.38 and a yield of 4.74%. The payout ratio of the Canadian Imperial Bank of Commerce is 62.27%.
Canadian Imperial Bank of Commerce company profile
The Canadian Imperial Bank of Commerce, a diversified financial institution, offers a variety of financial products and services to retail, business, public, and institutional clients in Canada, the United States, and internationally. The company operates in four strategic businesses: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; US
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