Brokerages 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 been given a consensus recommendation of "Moderate Buy" by the six brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $109.00.

CM has been the subject of a number of analyst reports. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Wall Street Zen raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. 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 assumed coverage on Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They issued a "sector outperform" rating for the company. Finally, Royal Bank Of Canada upped their price target on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an "outperform" rating in a report on Friday, May 30th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Operose Advisors LLC acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth $26,000. HM Payson & Co. acquired a new stake in shares of Canadian Imperial Bank of Commerce during the first quarter valued at $29,000. TruNorth Capital Management LLC lifted its position in Canadian Imperial Bank of Commerce by 156.0% during the first quarter. TruNorth Capital Management LLC now owns 512 shares of the bank's stock worth $29,000 after buying an additional 312 shares during the period. Sandy Spring Bank purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $32,000. Finally, Truvestments Capital LLC purchased a new position in Canadian Imperial Bank of Commerce during the first quarter worth about $32,000. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Up 0.8%

Shares of Canadian Imperial Bank of Commerce stock traded up $0.55 on Friday, reaching $72.59. 783,563 shares of the company were exchanged, compared to its average volume of 1,124,699. Canadian Imperial Bank of Commerce has a 1-year low of $47.55 and a 1-year high of $73.52. The company has a market cap of $67.75 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.57 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. The stock's 50 day moving average price is $68.68 and its 200-day moving average price is $63.12.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its quarterly earnings data on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, topping 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 the consensus estimate of $4.78 billion. During the same period in the previous year, the company posted $1.75 earnings per share. The business's revenue for the quarter was up 13.9% on a year-over-year basis. As a group, equities analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be issued a dividend of $0.7024 per share. This represents a $2.81 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Friday, June 27th. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 49.56%.

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.