Canadian Imperial Bank of Commerce (NYSE:CM) Given Consensus Rating of “Hold” by Brokerages

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has earned a consensus rating of “Hold” from the nine brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $126.00.

CM has been the subject of a number of recent analyst reports. TD Securities lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Barclays lowered shares of Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, June 11th. Canaccord Genuity lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd.

Shares of CM traded down $0.49 during mid-day trading on Tuesday, reaching $77.03. The stock had a trading volume of 641,481 shares, compared to its average volume of 299,750. The firm has a market capitalization of $34.48 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 6.85 and a beta of 1.17. Canadian Imperial Bank of Commerce has a 12 month low of $72.96 and a 12 month high of $96.98. The business’s fifty day moving average price is $78.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Wednesday, May 22nd. The bank reported $2.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.22 by $0.75. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.36 billion. Canadian Imperial Bank of Commerce had a net margin of 18.83% and a return on equity of 16.30%. During the same period in the prior year, the business posted $2.95 earnings per share. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 8.99 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Friday, June 28th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 5.40%. The ex-dividend date was Thursday, June 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 44.33%.

Hedge funds have recently added to or reduced their stakes in the company. First Allied Advisory Services Inc. increased its holdings in Canadian Imperial Bank of Commerce by 7.3% during the 4th quarter. First Allied Advisory Services Inc. now owns 7,852 shares of the bank’s stock worth $584,000 after purchasing an additional 532 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 7.6% in the 4th quarter. Cetera Advisors LLC now owns 3,729 shares of the bank’s stock valued at $275,000 after acquiring an additional 264 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Canadian Imperial Bank of Commerce by 5.5% in the 4th quarter. Macquarie Group Ltd. now owns 7,810 shares of the bank’s stock valued at $583,000 after acquiring an additional 410 shares in the last quarter. Millennium Management LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at about $322,000. Finally, Advisory Services Network LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 108.0% in the 4th quarter. Advisory Services Network LLC now owns 443 shares of the bank’s stock valued at $33,000 after acquiring an additional 230 shares in the last quarter. 45.63% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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