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

Shares of Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM have earned a consensus recommendation of "Moderate Buy" from the six brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $109.00.

CM has been the subject of several recent research reports. BMO Capital Markets boosted their price target on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Royal Bank Of Canada lifted their price objective on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Scotiabank initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They issued a "sector outperform" rating on the stock.

Institutional Trading of Canadian Imperial Bank of Commerce

Large investors have recently bought and sold shares of the stock. Operose Advisors LLC purchased a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $26,000. HM Payson & Co. acquired a new stake in Canadian Imperial Bank of Commerce during the 1st quarter valued at approximately $29,000. TruNorth Capital Management LLC lifted its stake in Canadian Imperial Bank of Commerce by 156.0% during the 1st quarter. TruNorth Capital Management LLC now owns 512 shares of the bank's stock valued at $29,000 after acquiring an additional 312 shares during the period. Sandy Spring Bank acquired a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $32,000. Finally, Truvestments Capital LLC acquired a new stake in Canadian Imperial Bank of Commerce during the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Down 0.5%

Shares of NYSE:CM traded down $0.37 during trading hours on Friday, hitting $73.08. The company's stock had a trading volume of 1,165,448 shares, compared to its average volume of 1,134,542. Canadian Imperial Bank of Commerce has a 52 week low of $47.55 and a 52 week high of $73.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $68.70 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 1.58 and a beta of 1.05. The firm's fifty day moving average price is $68.35 and its 200 day moving average price is $63.01.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings results on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, beating the consensus estimate of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 12.19% and a return on equity of 14.51%. 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 previous year, the business posted $1.75 EPS. The company's quarterly revenue was up 13.9% compared to the same quarter last year. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be given a dividend of $0.7024 per share. This represents a $2.81 annualized dividend and a yield of 3.84%. The ex-dividend date is Friday, June 27th. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. Canadian Imperial Bank of Commerce's payout ratio is currently 49.56%.

About Canadian Imperial Bank of Commerce

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.