Analysts Set Canadian Imperial Bank of Commerce (NYSE:CM) PT at $109.00

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM has earned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $109.00.

CM has been the topic of a number of research analyst reports. Royal Bank Of Canada upped their target price on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. National Bank Financial downgraded Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Scotiabank initiated coverage on Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Finally, BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a report on Friday, May 30th.

Institutional Trading of Canadian Imperial Bank of Commerce

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 40,028,162 shares of the bank's stock worth $2,251,664,000 after buying an additional 642,924 shares during the last quarter. TD Asset Management Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 3.7% in the 4th quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank's stock worth $1,492,138,000 after buying an additional 851,164 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of Canadian Imperial Bank of Commerce by 1.1% in the 4th quarter. Toronto Dominion Bank now owns 22,138,015 shares of the bank's stock worth $1,398,619,000 after buying an additional 234,088 shares during the last quarter. Bank of Nova Scotia boosted its stake in Canadian Imperial Bank of Commerce by 4.5% during the 1st quarter. Bank of Nova Scotia now owns 17,967,436 shares of the bank's stock valued at $1,010,849,000 after purchasing an additional 773,174 shares during the last quarter. Finally, FIL Ltd boosted its stake in Canadian Imperial Bank of Commerce by 53.6% during the 4th quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock valued at $783,613,000 after purchasing an additional 4,321,451 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Trading Up 0.6%

CM traded up $0.42 during midday trading on Wednesday, reaching $68.88. 1,339,625 shares of the company's stock traded hands, compared to its average volume of 1,109,432. The firm has a fifty day moving average of $65.07 and a two-hundred day moving average of $62.39. The stock has a market capitalization of $64.76 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 1.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 52 week low of $47.11 and a 52 week high of $69.88.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its quarterly earnings results on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 14.51% and a net margin of 12.19%. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the company posted $1.75 EPS. Canadian Imperial Bank of Commerce's quarterly revenue was up 13.9% compared to the same quarter last year. On average, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be paid a $0.7024 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.81 annualized dividend and a dividend yield of 4.08%. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 47.10%.

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.