Canadian Imperial Bank of Commerce (NYSE:CM) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Moderate Buy consensus from nine analysts (3 Hold, 4 Buy, 2 Strong Buy) with an average 1‑year target price of $107.50.
• CIBC beat quarterly expectations — EPS $1.99 vs. $1.74 estimate and revenue $6.16B vs. $5.53B, with revenue up 15.3% year‑over‑year; analysts project about 5.5 EPS for the current year.
• The bank declared a quarterly dividend of $1.07 (annualized $4.28) implying a 4.1% yield and a payout ratio around 45.8% (ex‑dividend March 27).

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM has been given a consensus rating of "Moderate Buy" by the nine analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $107.50.

CM has been the subject of a number of research reports. Barclays raised Canadian Imperial Bank of Commerce from an "underweight" rating to an "overweight" rating in a research report on Thursday, February 19th. Zacks Research raised Canadian Imperial Bank of Commerce from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings raised Canadian Imperial Bank of Commerce from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday, March 10th.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $104.67 on Tuesday. The stock has a 50-day moving average price of $97.75 and a two-hundred day moving average price of $90.96. Canadian Imperial Bank of Commerce has a 12-month low of $57.32 and a 12-month high of $105.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The company has a market cap of $96.12 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 1.07 and a beta of 1.00.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share (EPS) for the quarter, beating 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 business earned $2.20 earnings per share. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. As a group, research analysts predict that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Friday, March 27th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Imperial Bank of Commerce's payout ratio is 45.77%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Salem Investment Counselors Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce during the third quarter worth about $30,000. AdvisorNet Financial Inc lifted its stake in shares of Canadian Imperial Bank of Commerce by 300.0% during the third quarter. AdvisorNet Financial Inc now owns 400 shares of the bank's stock worth $32,000 after purchasing an additional 300 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in shares of Canadian Imperial Bank of Commerce during the third quarter worth about $32,000. Larson Financial Group LLC lifted its stake in shares of 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 worth $32,000 after purchasing an additional 219 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the third quarter worth about $34,000. Institutional investors and hedge funds own 49.88% of the company's stock.

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.

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