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

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $107.50.

Several equities research analysts have weighed in on CM shares. Raymond James Financial initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, November 25th. They issued a “market perform” rating for the company. Wall Street Zen raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. Zacks Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, October 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CM. Gradient Investments LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 39.2% during the fourth quarter. Gradient Investments LLC now owns 23,079 shares of the bank’s stock worth $2,091,000 after buying an additional 6,498 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Canadian Imperial Bank of Commerce by 12.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,126 shares of the bank’s stock worth $375,000 after acquiring an additional 453 shares during the last quarter. Aventura Private Wealth LLC acquired a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth about $69,000. Sagespring Wealth Partners LLC lifted its position in Canadian Imperial Bank of Commerce by 13.0% during the 4th quarter. Sagespring Wealth Partners LLC now owns 3,268 shares of the bank’s stock worth $296,000 after acquiring an additional 376 shares during the period. Finally, Allworth Financial LP grew its stake in Canadian Imperial Bank of Commerce by 17.8% during the 3rd quarter. Allworth Financial LP now owns 1,401 shares of the bank’s stock valued at $112,000 after purchasing an additional 212 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at $91.70 on Friday. The stock’s 50-day moving average is $88.64 and its 200 day moving average is $80.60. Canadian Imperial Bank of Commerce has a 1-year low of $53.62 and a 1-year high of $94.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $85.17 billion, a P/E ratio of 15.06, a PEG ratio of 1.25 and a beta of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, December 4th. The bank reported $1.57 EPS for the quarter, beating the consensus estimate of $1.49 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 13.57% and a return on equity of 14.93%. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same period in the prior year, the firm posted $1.91 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Research analysts predict that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Monday, December 29th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, December 29th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s payout ratio is 50.25%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.