Home Commerce Canadian Imperial Bank of Commerce (NYSE:CM) Receives Average “Buy” Rating from Analysts

Canadian Imperial Bank of Commerce (NYSE:CM) Receives Average “Buy” Rating from Analysts

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Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) received an average “Buy” recommendation from the eleven rating agencies that cover the company, Marketbeat reports. Two research analysts rated the stock with a hold recommendation and nine gave the company a buy recommendation. The 12-month average price target among brokers who updated their coverage on the stock in the past year is $157.70.

A number of brokerages have recently released reports on CM. cut their price target on Canadian Imperial Bank of Commerce shares from $163.00 to $161.00 and set a “buy” rating for the company in a Friday, Dec. 3 report. Royal Bank of Canada raised its price target on shares of Canadian Imperial Bank of Commerce from $158.00 to $169.00 and gave the stock an “outperform” rating in a Friday report 3 December. CIBC lowered its price target on Canadian Imperial Bank of Commerce shares from C$168.00 to C$165.00 and set an “outperform” rating for the company in a report released on Friday 3 December. Finally, Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a price target of $122.00 for the company in a Monday, Dec. 6 report.

CM stock opened at $131.59 on Friday. The company has a market capitalization of $59.34 billion, a price/earnings ratio of 11.88, a PEG ratio of 2.98 and a beta of 1.12. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt ratio of 0.13. The Canadian Imperial Bank of Commerce has a 12-month low of $84.65 and a 12-month high of $131.75. The company has a 50-day moving average of $116.68 and a two-hundred-day moving average of $116.35.

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The Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, December 2. The bank reported EPS of $3.37 for the quarter, beating the Zacks consensus estimate of $2.80 by $0.57. The company posted revenue of $5.06 billion in the quarter, versus a consensus estimate of $5.10 billion. The Canadian Imperial Bank of Commerce posted a net margin of 27.61% and a return on equity of 16.57%. Canadian Imperial Bank of Commerce’s quarterly revenue rose 10.1% year over year. In the same quarter of the previous year, the company achieved EPS of $2.79. As a group, stock analysts expect the Canadian Imperial Bank of Commerce to post earnings per share of 11.28 for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 28. Investors of record on Wednesday, December 29 will receive a dividend of $1.26 per share. The ex-dividend date is Tuesday, December 28. This represents a dividend of $5.04 on an annualized basis and a dividend yield of 3.83%. This is a boost from the Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.16. The Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 45.49%.

Several large investors have recently bought and sold shares of CM. Massmutual Trust Co. FSB ADV increased its position in Canadian Imperial Bank of Commerce by 732.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 358 shares of the bank valued at $40,000 after buying 315 additional shares during the period. Tower View Investment Management & Research LLC bought a new position in Canadian Imperial Bank of Commerce in Q3 valued at around $45,000. National Bank Huntington increased its position in Canadian Imperial Bank of Commerce shares by 1,230.0% during the third quarter. Huntington National Bank now owns 532 shares of the bank worth $59,000 after buying 492 more shares in the last quarter. Liberty Wealth Management LLC increased its position in Canadian Imperial Bank of Commerce shares by 31.8% during the third quarter. Liberty Wealth Management LLC now owns 899 shares of the bank worth $120,000 after buying 217 additional shares in the last quarter. Finally, JJJ Advisors Inc. raised its position in Canadian Imperial Bank of Commerce shares by 19.2% during the third quarter. JJJ Advisors Inc. now owns 1,805 shares of the bank worth $201,000 after buying 291 additional shares in the last quarter. 44.67% of the shares are held by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Corporate Profile

The Canadian Imperial Bank of Commerce is a financial institution that provides banking and wealth management services. It operates through the following segments: Canadian Personal and Small Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, Corporate and Others.

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

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