Analysts Set Canadian Imperial Bank of Commerce (NYSE:CM) PT at $63.00

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has received an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $63.00.

Several analysts recently weighed in on CM shares. Jefferies Financial Group initiated coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, February 22nd. They issued a “buy” rating on the stock. Barclays began coverage on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They set an “underweight” rating on the stock. Finally, Scotiabank upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, February 20th.

Institutional Trading of Canadian Imperial Bank of Commerce

Hedge funds have recently made changes to their positions in the business. Bruce G. Allen Investments LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $33,000. Glassman Wealth Services raised its stake in Canadian Imperial Bank of Commerce by 57.5% in the 4th quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock worth $33,000 after acquiring an additional 253 shares during the last quarter. Janiczek Wealth Management LLC grew its stake in Canadian Imperial Bank of Commerce by 34.9% during the 4th quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock valued at $41,000 after purchasing an additional 222 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Canadian Imperial Bank of Commerce by 574.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock worth $51,000 after buying an additional 908 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $64,000. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $48.03 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $45.03 billion, a P/E ratio of 9.92, a P/E/G ratio of 2.23 and a beta of 1.06. The firm’s fifty day moving average is $48.54 and its 200 day moving average is $44.51. Canadian Imperial Bank of Commerce has a 52 week low of $34.35 and a 52 week high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.10. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.47 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. Research analysts predict that Canadian Imperial Bank of Commerce will post 5.04 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.6634 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.65 annualized dividend and a dividend yield of 5.52%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 26.45%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.