Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM had its target price upped by Royal Bank of Canada from $108.00 to $116.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the bank's stock.
A number of other research analysts have also recently issued reports on CM. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Wall Street Zen upgraded shares of 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 shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday. Finally, Scotiabank initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They set a "sector outperform" rating on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $109.00.
Read Our Latest Research Report on CM
Canadian Imperial Bank of Commerce Price Performance
Shares of Canadian Imperial Bank of Commerce stock traded up $0.23 during trading on Friday, hitting $67.98. 361,536 shares of the company's stock traded hands, compared to its average volume of 1,124,189. The company has a market cap of $63.91 billion, a PE ratio of 12.71, a PEG ratio of 1.62 and a beta of 1.06. The firm's fifty day moving average price is $61.76 and its 200 day moving average price is $62.00. Canadian Imperial Bank of Commerce has a twelve month low of $46.99 and a twelve month high of $69.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05.
Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its quarterly earnings data on Thursday, May 29th. The bank reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.10. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.78 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.01% and a net margin of 11.10%. The company's revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 EPS. Analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current 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 given a dividend of $0.7024 per share. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. The ex-dividend date is Friday, June 27th. This represents a $2.81 annualized dividend and a yield of 4.13%. Canadian Imperial Bank of Commerce's dividend payout ratio is 47.28%.
Institutional Investors Weigh In On Canadian Imperial Bank of Commerce
A number of hedge funds have recently added to or reduced their stakes in the stock. Crews Bank & Trust bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth about $25,000. Operose Advisors LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $26,000. HM Payson & Co. bought a new position in Canadian Imperial Bank of Commerce in the 1st quarter worth approximately $29,000. TruNorth Capital Management LLC lifted its holdings 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 worth $29,000 after buying an additional 312 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Canadian Imperial Bank of Commerce during the 4th quarter worth $30,000. Institutional investors own 49.88% of the company's stock.
About Canadian Imperial Bank of Commerce
(
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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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