Canadian Imperial Bank of Commerce (NYSE:CM) Stock Has Consensus Price Target of $160.00 According to Brokerages

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $160.00.

CM has been the subject of a number of research analyst reports. Barclays reiterated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 21st. TD Securities reissued a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, August 12th. Keefe, Bruyette & Woods initiated coverage on Canadian Imperial Bank of Commerce in a report on Friday, August 21st. They set a “market perform” rating on the stock. Desjardins lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 28th.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

Hedge funds have recently bought and sold shares of the stock. Compass Financial Management LLC purchased a new stake in Canadian Imperial Bank of Commerce during the third quarter worth $33,000. Bell Investment Advisors Inc acquired a new stake in shares of Canadian Imperial Bank of Commerce in the second quarter worth $36,000. Security National Bank of SO Dak acquired a new stake in shares of Canadian Imperial Bank of Commerce in the second quarter valued at $42,000. Silver Grove Financial Group Inc. increased its stake in Canadian Imperial Bank of Commerce by 43.9% in the third quarter. Silver Grove Financial Group Inc. now owns 469 shares of the bank’s stock valued at $52,000 after purchasing an additional 143 shares in the last quarter. Finally, Addison Advisors LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the third quarter valued at about $52,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

CM opened at $115.12 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a fifty-two week low of $82.71 and a fifty-two week high of $124.86. The stock has a market capitalization of $104.52 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.07 and a beta of 1.01. The company has a fifty day moving average of $113.74 and a 200 day moving average of $109.22.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, August 27th. The bank reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.16. Canadian Imperial Bank of Commerce had a return on equity of 17.02% and a net margin of 16.09%. The firm had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $5.74 billion. As a group, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 7.60 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Monday, September 28th were given a C$1.07 dividend. The ex-dividend date was Monday, September 28th. This represents a $4.28 dividend on an annualized basis and a yield of 3.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 41.26%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (CIBC) is a diversified financial institution headquartered in Toronto, Canada. It traces its roots to the Canadian Bank of Commerce, founded in 1867, and was formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada.

CIBC provides personal and business banking, commercial banking, wealth management, and capital markets services. Its offerings include deposit accounts, mortgages, lending, payment services, investment and financial advice, and financing and advisory services for businesses and institutional clients.

The bank serves individuals, businesses, and institutions across Canada and the United States, as well as clients in select international markets.