Dundee Securities started coverage on shares of Canadian Imperial Bank of Commerce (NYSE:CM) in a report issued on Wednesday morning. The firm issued a buy rating on the stock.

Analyst Recommendations for Canadian Imperial Bank of Commerce (NYSE:CM)

Other analysts have also issued research reports about the stock. Desjardins reiterated a buy rating and issued a $110.00 price objective (up previously from $109.00) on shares of Canadian Imperial Bank of Commerce in a research note on Monday, August 29th. Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a hold rating to a buy rating and set a $90.00 price target on the stock in a research report on Tuesday, August 30th. TD Securities restated a hold rating and set a $100.00 price target on shares of Canadian Imperial Bank of Commerce in a research report on Friday, July 1st. Canaccord Genuity restated a hold rating and set a $100.00 price target (down previously from $106.00) on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, June 29th. Finally, BMO Capital Markets restated a hold rating and set a $103.00 price target on shares of Canadian Imperial Bank of Commerce in a research report on Friday, September 9th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $101.00.

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) traded up 1.02% during mid-day trading on Wednesday, reaching $78.93. 48,348 shares of the company’s stock traded hands. The company’s 50 day moving average is $78.00 and its 200 day moving average is $77.00. Canadian Imperial Bank of Commerce has a 12-month low of $56.29 and a 12-month high of $82.60. The company has a market cap of $31.16 billion, a P/E ratio of 10.09 and a beta of 1.03.

Canadian Imperial Bank of Commerce (NYSE:CM) last released its quarterly earnings data on Thursday, August 25th. The company reported $2.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.35 by $0.32. Canadian Imperial Bank of Commerce had a net margin of 22.51% and a return on equity of 18.83%. During the same period last year, the company earned $2.45 EPS. On average, analysts predict that Canadian Imperial Bank of Commerce will post $7.66 EPS for the current fiscal year.

The company also recently announced a dividend, which will be paid on Friday, October 28th. Shareholders of record on Wednesday, September 28th will be paid a dividend of $0.928 per share. The ex-dividend date of this dividend is Monday, September 26th. This is an increase from Canadian Imperial Bank of Commerce’s previous dividend of $0.86. Canadian Imperial Bank of Commerce’s payout ratio is 47.19%.

A number of institutional investors have recently modified their holdings of CM. Advisor Group Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce during the second quarter worth approximately $154,000. Nikko Asset Management Americas Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce during the first quarter worth approximately $196,000. Eqis Capital Management Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce during the second quarter worth approximately $208,000. Stevens Capital Management LP purchased a new position in shares of Canadian Imperial Bank of Commerce during the second quarter worth approximately $220,000. Finally, Van ECK Associates Corp increased its position in shares of Canadian Imperial Bank of Commerce by 3.6% in the second quarter. Van ECK Associates Corp now owns 3,071 shares of the company’s stock worth $231,000 after buying an additional 107 shares during the period. 52.59% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

5 Day Chart for NYSE:CM

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with Analyst Ratings Network's FREE daily email newsletter.