Analysts Set Canadian Imperial Bank of Commerce (NYSE:CM) Price Target at $107.50

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $107.50.

A number of equities research analysts recently commented on the company. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, May 4th. Zacks Research downgraded Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Barclays raised Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Thursday, February 19th. Finally, Weiss Ratings downgraded Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, April 17th.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM opened at $110.89 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. Canadian Imperial Bank of Commerce has a fifty-two week low of $63.53 and a fifty-two week high of $113.28. The company has a market cap of $101.82 billion, a PE ratio of 16.16, a P/E/G ratio of 1.13 and a beta of 1.05. The business has a 50-day simple moving average of $102.04 and a two-hundred day simple moving average of $94.61.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, February 26th. The bank reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a return on equity of 15.69% and a net margin of 15.15%.The firm had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The company’s revenue was up 15.3% compared to the same quarter last year. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 7.57 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Friday, March 27th were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.9%. Canadian Imperial Bank of Commerce’s payout ratio is 45.77%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its position in Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after acquiring an additional 219 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in Canadian Imperial Bank of Commerce during the third quarter valued at approximately $34,000. Guerra Advisors Inc purchased a new position in Canadian Imperial Bank of Commerce during the third quarter valued at approximately $35,000. EFG International AG purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $35,000. Finally, Lodestone Wealth Management LLC purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $37,000. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.