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

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $160.00.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CM. Compass Financial Management LLC acquired a new position in Canadian Imperial Bank of Commerce during the third quarter worth $33,000. Bell Investment Advisors Inc bought a new stake in Canadian Imperial Bank of Commerce during the second quarter worth $36,000. Security National Bank of SO Dak acquired a new stake in Canadian Imperial Bank of Commerce in the second quarter valued at $42,000. Global Assets Advisory LLC acquired a new stake in Canadian Imperial Bank of Commerce in the first quarter valued at $54,000. Finally, NFSG Corp acquired a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at $75,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 2.9%

Shares of CM stock opened at $119.86 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of $82.71 and a 12-month high of $124.86. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average of $113.78 and a 200-day moving average of $108.98. The company has a market capitalization of $108.53 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 1.07 and a beta of 1.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, August 27th. The bank reported $1.96 EPS for the quarter, beating the consensus estimate of $1.80 by $0.16. The business had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.74 billion. Canadian Imperial Bank of Commerce had a net margin of 16.09% and a return on equity of 17.02%. As a group, equities research analysts predict that Canadian Imperial Bank of Commerce will post 7.60 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Stockholders of record on Monday, September 28th were issued a C$1.07 dividend. The ex-dividend date was Monday, September 28th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.6%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 41.26%.

About Canadian Imperial Bank of Commerce

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.