Canadian Imperial Bank of Commerce (NYSE:CM) Given "Buy (B)" Rating at Weiss Ratings

Key Points

• The Canadian Imperial Bank of Commerce's stock received a "Buy (B)" rating from Weiss Ratings, signaling strong investor confidence.
• Royal Bank of Canada raised its price target from $112.00 to $113.00 on the bank's shares, maintaining an "outperform" rating.
• The company reported an earnings per share of $1.57 for the last quarter, exceeding analysts' expectations and marking a 3.3% increase in year-over-year revenue.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM's stock had its "buy (b)" rating restated by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other research firms also recently issued reports on CM. Royal Bank Of Canada raised their price objective on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Wall Street Zen downgraded shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Saturday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $107.50.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock traded down $1.15 during mid-day trading on Wednesday, hitting $80.43. 1,211,121 shares of the stock were exchanged, compared to its average volume of 1,180,520. Canadian Imperial Bank of Commerce has a 12 month low of $53.62 and a 12 month high of $82.23. The company has a 50-day simple moving average of $76.83 and a 200 day simple moving average of $69.53. The company has a market capitalization of $74.77 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.74 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 1.04.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.12 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.Canadian Imperial Bank of Commerce's revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $1.93 earnings per share. Sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. HM Payson & Co. bought a new position in Canadian Imperial Bank of Commerce in the 1st quarter valued at $29,000. TruNorth Capital Management LLC boosted its holdings in Canadian Imperial Bank of Commerce by 156.0% in the 1st quarter. TruNorth Capital Management LLC now owns 512 shares of the bank's stock valued at $29,000 after purchasing an additional 312 shares during the period. Salem Investment Counselors Inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at $30,000. Truvestments Capital LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 1st quarter valued at $32,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $34,000. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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