Canadian Imperial Bank of Commerce (NYSE:CM) Receives Medium Rating of “Hold” by Brokerages

Shares of Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) have received an average rating of “Hold” from the fourteen brokerages that currently cover the stock, reports Marketbeat.com . One equity research analyst rated the stock with a sell recommendation, six assigned a hold recommendation and five gave the company a buy recommendation. The 1-year average price target among analysts who have covered the stock over the past year is $84.20.

Several analysts have recently released reports on the stock. StockNews.com took over coverage of Canadian Imperial Bank of Commerce stocks in a Thursday, March 31 research report. They set a “hold” rating for the company. Bank of America downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating in a report released Tuesday. CIBC raised its price target on shares of Canadian Imperial Bank of Commerce from C$86.50 to C$89.00 in a Monday, February 28 report. Zacks Investment Research downgraded the rating of Canadian Imperial Bank of Commerce shares from a “hold” rating to a “strong sell” rating in a report released Thursday. Finally, Stifel Europe raised its price target on Canadian Imperial Bank of Commerce shares from C$86.00 to C$87.00 and gave the company a “holding” rating in a Tuesday, May 1 report. March.

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Institutional investors have recently increased or reduced their stake in the stock. Capital World Investors bought a new position in the Canadian Imperial Bank of Commerce during the first quarter at a value of $938,627,000. Norges Bank bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at $478,882,000. FIL Ltd increased its position in Canadian Imperial Bank of Commerce by 59.8% during the third quarter. FIL Ltd now owns 9,519,911 shares in the bank valued at $1,059,772,000 after acquiring an additional 3,562,990 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Canadian Imperial Bank of Commerce by 106.1% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,348,572 shares of the bank valued at $273,973,000 after acquiring an additional 1,209,040 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Canadian Imperial Bank of Commerce by 314.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,480,375 shares of the bank valued at $172,553,000 after acquiring 1,122,833 additional shares in the last quarter. 43.66% of the shares are currently held by institutional investors.

Shares of CM were up $0.25 during Friday trading hours, hitting $53.73. The company had a trading volume of 17,838 shares, compared to its average volume of 898,783. The company has a fifty-day moving average price of $59.43 and a 200-day moving average price of 60, $19. The Canadian Imperial Bank of Commerce has a one-year low of $51.14 and a one-year high of $66.24. The company has a market capitalization of $48.49 billion, a PE ratio of 9.34, a growth price-earnings ratio of 2.83 and a beta of 1.02. The company has a debt ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.03.

The Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) last announced its results on Friday, February 25. The bank reported earnings per share (EPS) of $1.61 for the quarter, beating the consensus estimate of $1.42 by $0.19. The company posted revenue of $4.34 billion in the quarter, versus analyst estimates of $5.25 billion. The Canadian Imperial Bank of Commerce posted a net margin of 28.15% and a return on equity of 16.72%. In the same period a year earlier, the company posted earnings per share of $1.39. Equity research analysts expect the Canadian Imperial Bank of Commerce to post EPS of 5.37 for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 28. Investors of record on Monday, March 28 received a dividend of $0.6335 per share. This represents a dividend of $2.53 on an annualized basis and a yield of 4.72%. The ex-dividend date was Friday, March 25. The payout ratio of Canadian Imperial Bank of Commerce is 44.17%.

About Canadian Imperial Bank of Commerce (Get a rating)

The Canadian Imperial Bank of Commerce, a diversified financial institution, offers a variety of financial products and services to retail, business, public sector and institutional clients in Canada, the United States and abroad. The company operates through four strategic business units: Canadian Personal and Commercial Banking; Commercial banking and wealth management in Canada; WE

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