Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) issued its quarterly earnings results on Thursday. The bank reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16, Zacks reports. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%.
Canadian Imperial Bank of Commerce Price Performance
NYSE CM opened at $118.09 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. Canadian Imperial Bank of Commerce has a 1 year low of $73.50 and a 1 year high of $124.86. The company has a market cap of $107.80 billion, a PE ratio of 16.22, a PEG ratio of 1.23 and a beta of 1.01. The stock’s 50-day moving average price is $117.34 and its two-hundred day moving average price is $108.84.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the stock. Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Barclays restated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 21st. TD Securities restated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods assumed coverage on Canadian Imperial Bank of Commerce in a report on Friday, August 21st. They issued a “market perform” rating on the stock. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $167.00.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. FIL Ltd lifted its position in shares of Canadian Imperial Bank of Commerce by 26.1% in the 4th quarter. FIL Ltd now owns 12,756,323 shares of the bank’s stock valued at $1,156,438,000 after acquiring an additional 2,643,495 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Canadian Imperial Bank of Commerce by 69.3% in the 4th quarter. Mackenzie Financial Corp now owns 10,800,606 shares of the bank’s stock worth $986,173,000 after purchasing an additional 4,419,968 shares during the period. The Manufacturers Life Insurance Company grew its position in Canadian Imperial Bank of Commerce by 24.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 8,897,236 shares of the bank’s stock worth $808,281,000 after purchasing an additional 1,720,220 shares in the last quarter. Morgan Stanley grew its position in Canadian Imperial Bank of Commerce by 39.5% during the 4th quarter. Morgan Stanley now owns 4,988,745 shares of the bank’s stock worth $452,030,000 after purchasing an additional 1,412,363 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Canadian Imperial Bank of Commerce by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,165,969 shares of the bank’s stock valued at $286,888,000 after purchasing an additional 21,992 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.
About Canadian Imperial Bank of Commerce
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.
Read More
- Five stocks we like better than Canadian Imperial Bank of Commerce
- J.M. Smucker’s Rally Nears a Key Test: Is a Full Recovery Ahead?
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.
