According to MarketBeat reports, stocks in the Canadian Imperial Bank of Commerce (NYSE: CM) (TSE: CM) received an average rating of “Buy” out of the fifteen research firms that currently cover the company. Four research analysts for stocks have given the stock a hold recommendation and eleven have given the company a buy recommendation. The average 12-month price target among brokers who have covered the stock over the past year is $ 108.89.
CM has been the subject of a number of research reports. CIBC raised its target price for shares in the Canadian Imperial Bank of Commerce from USD 126.00 to USD 130.00 and rated the shares as “Outperform” in a report on Friday, February 26th. Credit Suisse Group raised the shares of the Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a report dated Wednesday, March 3, with a price target of USD 118.00 for the share raised to $ 123.00. Zacks Investment Research upgraded the shares of 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 report on Friday, February 5th . BMO Capital Markets upgraded the shares of the Canadian Imperial Bank of Commerce from a “Market Perform” rating to an “Outperform” rating in a research note on Friday, February 26th. Finally, on Tuesday, March 9th, Cormark confirmed a buy rating for shares in the Canadian Imperial Bank of Commerce in a research note.
CM opened at $ 99.36 on Thursday. The Canadian Imperial Bank of Commerce has a fifty-two-week low of $ 54.91 and a fifty-two-week high of $ 102.20. The company has a leverage ratio of 0.15, a current rate of 1.04, and a fast rate of 1.04. The company has a market cap of $ 44.53 billion, a value for money of 16.32, a PEG ratio of 1.97, and a beta of 1.12. The company’s 50-day moving average price is $ 98.05 and the two-hundred-day moving average is $ 87.32.
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The Canadian Imperial Bank of Commerce (NYSE: CM) (TSE: CM) last released its results on Wednesday, February 24th. The bank reported earnings of $ 3.58 per share for the quarter, beating Zacks’ consensus estimate of $ 2.18 by $ 1.40. The Canadian Imperial Bank of Commerce had a net margin of 15.06% and a return on equity of 12.03%. The company had revenue of $ 3.86 billion for the quarter, compared to analyst estimates of $ 3.77 billion. As analysts, stock analysts predict that the Canadian Imperial Bank of Commerce will post an EPS of 8.11 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. A dividend of $ 1.1669 will be paid to shareholders of record on Monday, March 29th. The ex-dividend day is Friday March 26th. This equates to an annualized dividend of $ 4.67 and a dividend yield of 4.70%. This is an increase over the previous quarterly dividend from the Canadian Imperial Bank of Commerce of $ 1.10. The Canadian Imperial Bank of Commerce’s payout ratio is currently 62.27%.
Institutional investors and hedge funds have recently bought and sold shares in the stock. International Assets Investment Management LLC purchased a new position in the Canadian Imperial Bank of Commerce for approximately $ 38,000 in the fourth quarter. Reby Advisors LLC bought a new position in the Canadian Imperial Bank of Commerce for approximately $ 41,000 in the fourth quarter. Childress Capital Advisors LLC bought a new position in the Canadian Imperial Bank of Commerce for approximately $ 44,000 in the fourth quarter. Valeo Financial Advisors LLC bought a new position in the Canadian Imperial Bank of Commerce for approximately $ 82,000 in the first quarter. Finally, IFP Advisors Inc expanded its position in the Canadian Imperial Bank of Commerce by 70.4% in the fourth quarter. IFP Advisors Inc now owns 869 shares in the bank valued at $ 74,000 after purchasing an additional 359 shares during the reporting period. Institutional investors hold 42.62% of the company’s shares.
Via the Canadian Imperial Bank of Commerce
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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