Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has received an average recommendation of “Hold” from the sixteen brokerages that are presently covering the firm. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $99.70.

Several analysts have commented on CM shares. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Barclays PLC restated an “underperform” rating and issued a $93.00 price target (up previously from $87.00) on shares of Canadian Imperial Bank of Commerce in a report on Sunday, August 21st. Canaccord Genuity restated a “neutral” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, August 25th. Royal Bank Of Canada lifted their price target on Canadian Imperial Bank of Commerce from $104.00 to $112.00 and gave the company a “sector perform” rating in a report on Friday, August 26th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $103.00 price target (up previously from $97.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 26th.

Several institutional investors have recently made changes to their positions in the stock. CLS Investments LLC raised its position in shares of 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 last quarter. Compagnie Lombard Odier SCmA raised its position in shares of Canadian Imperial Bank of Commerce by 1.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 5,070 shares of the company’s stock worth $379,000 after buying an additional 50 shares during the last quarter. Naples Global Advisors LLC raised its position in shares of Canadian Imperial Bank of Commerce by 0.4% in the third quarter. Naples Global Advisors LLC now owns 11,770 shares of the company’s stock worth $913,000 after buying an additional 50 shares during the last quarter. BB&T Securities LLC raised its position in shares of Canadian Imperial Bank of Commerce by 0.5% in the second quarter. BB&T Securities LLC now owns 18,205 shares of the company’s stock worth $1,366,000 after buying an additional 94 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC raised its position in shares of Canadian Imperial Bank of Commerce by 0.9% in the second quarter. Taylor Frigon Capital Management LLC now owns 11,874 shares of the company’s stock worth $891,000 after buying an additional 102 shares during the last quarter. 52.78% of the stock is currently owned by institutional investors.

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) opened at 78.17 on Friday. The stock’s 50 day moving average is $75.65 and its 200 day moving average is $77.07. Canadian Imperial Bank of Commerce has a 12 month low of $56.29 and a 12 month high of $82.60. The firm has a market cap of $30.86 billion, a PE ratio of 10.24 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) last announced its earnings results on Thursday, August 25th. The company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.32. Canadian Imperial Bank of Commerce had a net margin of 22.51% and a return on equity of 18.83%. During the same period in the prior year, the business posted $2.45 earnings per share. On average, analysts anticipate that Canadian Imperial Bank of Commerce will post $7.46 earnings per share for the current fiscal year.

The firm also recently announced a dividend, which was paid on Friday, October 28th. Shareholders of record on Wednesday, September 28th were given a $0.928 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous dividend of $0.86. The ex-dividend date of this dividend was Monday, September 26th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 47.07%.

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Canadian Imperial Bank of Commerce Company Profile

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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