Shares of Canadian Imperial Bank of Commerce (NYSE:CM) have received a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the firm. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $101.08.

Several analysts have weighed in on CM shares. Barclays PLC reissued an “underperform” rating and issued a $93.00 target price (up previously from $87.00) on shares of Canadian Imperial Bank of Commerce in a report on Sunday, August 21st. Royal Bank Of Canada lowered their target price on Canadian Imperial Bank of Commerce from $106.00 to $104.00 and set a “sector perform” rating on the stock in a report on Thursday, June 30th. TD Securities reissued a “hold” rating and issued a $105.00 target price (up previously from $100.00) on shares of Canadian Imperial Bank of Commerce in a report on Monday, August 29th. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Tuesday, August 30th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $103.00 target price (up previously from $97.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 26th.

Canadian Imperial Bank of Commerce (NYSE:CM) traded up 0.25% during trading on Thursday, reaching $75.65. The company’s stock had a trading volume of 466,709 shares. The company’s 50-day moving average is $77.72 and its 200-day moving average is $77.29. Canadian Imperial Bank of Commerce has a 1-year low of $56.29 and a 1-year high of $82.60. The company has a market capitalization of $29.87 billion, a P/E ratio of 9.71 and a beta of 1.01.

Canadian Imperial Bank of Commerce (NYSE:CM) last posted its earnings results on Thursday, August 25th. The company reported $2.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.35 by $0.32. Canadian Imperial Bank of Commerce had a return on equity of 18.83% and a net margin of 22.51%. During the same period last year, the business earned $2.45 EPS. Equities analysts anticipate that Canadian Imperial Bank of Commerce will post $7.64 EPS for the current year.

The firm also recently announced a dividend, which will be paid on Friday, October 28th. Investors of record on Wednesday, September 28th will be given a dividend of $0.928 per share. The ex-dividend date is Monday, September 26th. This is an increase from Canadian Imperial Bank of Commerce’s previous dividend of $0.86. Canadian Imperial Bank of Commerce’s dividend payout ratio is 47.07%.

Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. acquired a new position in Canadian Imperial Bank of Commerce during the second quarter valued at $154,000. Eqis Capital Management Inc. purchased a new position in Canadian Imperial Bank of Commerce during the second quarter worth approximately $208,000. Stevens Capital Management LP purchased a new position in Canadian Imperial Bank of Commerce during the second quarter worth approximately $220,000. Van ECK Associates Corp increased its position in Canadian Imperial Bank of Commerce by 3.6% in the second quarter. Van ECK Associates Corp now owns 3,071 shares of the company’s stock worth $231,000 after buying an additional 107 shares during the period. Finally, CLS Investments LLC increased its position in Canadian Imperial Bank of Commerce by 1.5% in the second quarter. CLS Investments LLC now owns 3,136 shares of the company’s stock worth $235,000 after buying an additional 47 shares during the period. Hedge funds and other institutional investors own 52.59% of the company’s stock.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

5 Day Chart for NYSE:CM

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