Canadian Imperial Bank of Commerce (CM) Hits New 12-Month Low at $84.88

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) hit a new 52-week low on Friday . The stock traded as low as $84.88 and last traded at $85.99, with a volume of 24889 shares trading hands. The stock had previously closed at $86.62.

Several analysts have recently weighed in on the stock. ValuEngine upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Thursday, August 30th. TheStreet upgraded shares of Canadian Imperial Bank of Commerce from a “c” rating to a “b-” rating in a research report on Thursday, August 23rd. Finally, Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and a consensus price target of $123.00.

The firm has a market cap of $38.43 billion, a PE ratio of 9.64, a PEG ratio of 1.68 and a beta of 1.20. 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 announced its quarterly earnings results on Thursday, August 23rd. The bank reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.86. Canadian Imperial Bank of Commerce had a net margin of 21.27% and a return on equity of 17.77%. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the firm posted $2.77 EPS. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 9.35 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 29th. Investors of record on Friday, September 28th will be issued a dividend of $1.0412 per share. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. This represents a $4.16 annualized dividend and a yield of 4.86%. The ex-dividend date is Thursday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 46.91%.

A number of hedge funds have recently made changes to their positions in CM. Summit Trail Advisors LLC lifted its holdings in Canadian Imperial Bank of Commerce by 4,274.8% during the 1st quarter. Summit Trail Advisors LLC now owns 111,120 shares of the bank’s stock valued at $111,000 after purchasing an additional 108,580 shares during the last quarter. HighPoint Advisor Group LLC bought a new position in Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $195,000. Mawer Investment Management Ltd. bought a new position in Canadian Imperial Bank of Commerce during the 2nd quarter valued at about $205,000. Iberiabank Corp bought a new position in Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $217,000. Finally, Laurion Capital Management LP bought a new position in Canadian Imperial Bank of Commerce during the 2nd quarter valued at about $233,000. 46.23% of the stock is owned by hedge funds and other institutional investors.

About Canadian Imperial Bank of Commerce (NYSE:CM)

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, 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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