Canadian Imperial Bank of Commerce (NYSE:CM) Receives $167.00 Consensus Price Target from Analysts

Canadian Imperial Bank of Commerce (NYSE:CMGet Free Report) (TSE:CM) has received a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $167.00.

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 27th. TD Securities reiterated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 21st. They issued a “market perform” rating for the company. Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 28th.

View Our Latest Stock Analysis on Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM opened at $114.66 on Friday. Canadian Imperial Bank of Commerce has a 52-week low of $78.79 and a 52-week high of $124.86. The company has a market cap of $104.67 billion, a P/E ratio of 15.31, a P/E/G ratio of 1.13 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50-day simple moving average is $117.72 and its 200 day simple moving average is $110.37.

Canadian Imperial Bank of Commerce (NYSE:CMGet Free Report) (TSE:CM) last issued its quarterly earnings results on Thursday, August 27th. The bank reported $1.96 EPS for the quarter, beating the consensus estimate of $1.80 by $0.16. The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.74 billion. Canadian Imperial Bank of Commerce had a return on equity of 17.02% and a net margin of 16.09%. As a group, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 7.61 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Monday, September 28th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, September 28th. Canadian Imperial Bank of Commerce’s payout ratio is 41.39%.

Institutional Trading of Canadian Imperial Bank of Commerce

Hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 119.7% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after acquiring an additional 219 shares during the last quarter. EFG International AG acquired a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at $35,000. Bell Investment Advisors Inc acquired a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter valued at $36,000. Global Assets Advisory LLC bought a new position in Canadian Imperial Bank of Commerce during the first quarter worth $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in shares of Canadian Imperial Bank of Commerce by 87.0% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock valued at $69,000 after purchasing an additional 400 shares during the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Company Profile

(Get Free Report)

Canadian Imperial Bank of Commerce (CIBC) is a Canadian financial institution headquartered in Toronto, Ontario. The bank provides a broad range of financial products and services to individuals, businesses, institutions and government clients.

CIBC’s principal activities include personal and commercial banking, wealth management, investment banking and capital markets services. Its offerings include deposit accounts, mortgages, consumer and business lending, credit cards, investment advice, brokerage services, asset management, and corporate finance and advisory services.

The bank serves clients primarily in Canada and the United States through its Canadian banking operations, U.S.

Further Reading

Analyst Recommendations for Canadian Imperial Bank of Commerce (NYSE:CM)

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