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

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has been given an average recommendation of “Moderate Buy” by the ten research firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $160.00.

A number of research analysts recently issued reports on the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 28th. Desjardins cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, August 4th. Barclays reaffirmed an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 21st. Keefe, Bruyette & Woods initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 21st. They set a “market perform” rating for the company. Finally, TD Securities reissued a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, August 12th.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $116.88 on Friday. The company has a market cap of $106.12 billion, a P/E ratio of 15.60, a PEG ratio of 1.16 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a 50-day moving average of $113.72 and a 200 day moving average of $108.72. Canadian Imperial Bank of Commerce has a 1 year low of $82.25 and a 1 year high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, August 27th. The bank reported $1.96 earnings per share 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 company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.74 billion. On average, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 7.60 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

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

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 3.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 22,669 shares of the bank’s stock worth $2,498,000 after purchasing an additional 667 shares during the period. Ascent Group LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 9.6% in the 3rd quarter. Ascent Group LLC now owns 3,739 shares of the bank’s stock valued at $412,000 after purchasing an additional 328 shares during the period. Compass Financial Management LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at $33,000. Investment Insight Wealth Management LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 16.7% in the 3rd quarter. Investment Insight Wealth Management LLC now owns 4,668 shares of the bank’s stock valued at $515,000 after purchasing an additional 668 shares during the period. Finally, Vise Technologies Inc. boosted its holdings in Canadian Imperial Bank of Commerce by 4.1% during the third quarter. Vise Technologies Inc. now owns 33,137 shares of the bank’s stock worth $3,651,000 after buying an additional 1,296 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a Canadian financial institution headquartered in Toronto, Ontario. The bank provides a broad range of financial products and services to individuals, businesses, institutions and governments through its Canadian and U.S. operations.

CIBC’s main businesses include personal and business banking, commercial banking, wealth management, and capital markets. Its offerings include deposit accounts, mortgages, consumer and business lending, credit cards, investment and advisory services, and financial planning.