National Bank Financial Downgrades Canadian Imperial Bank of Commerce (NYSE:CM) to Sector Perform

National Bank Financial lowered shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM from an outperform rating to a sector perform rating in a report released on Friday, Marketbeat.com reports. National Bank Financial also issued estimates for Canadian Imperial Bank of Commerce's FY2025 earnings at $5.77 EPS and FY2026 earnings at $6.08 EPS.

Several other equities analysts have also weighed in on CM. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Scotiabank started 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. Finally, Wall Street Zen upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $109.00.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM traded up $0.08 on Friday, hitting $67.94. 897,899 shares of the stock were exchanged, compared to its average volume of 1,126,254. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The business's fifty day moving average is $61.57 and its 200 day moving average is $61.99. Canadian Imperial Bank of Commerce has a 52 week low of $46.99 and a 52 week high of $69.88. The company has a market capitalization of $63.87 billion, a PE ratio of 12.70, a P/E/G ratio of 1.62 and a beta of 1.06.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.10. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.78 billion. Canadian Imperial Bank of Commerce had a net margin of 11.10% and a return on equity of 14.01%. The company's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.75 earnings per share. Research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, June 27th. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. This represents a $2.81 annualized dividend and a yield of 4.14%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 47.28%.

Institutional Investors Weigh In On Canadian Imperial Bank of Commerce

Several hedge funds have recently added to or reduced their stakes in the business. Crews Bank & Trust bought a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $25,000. Operose Advisors LLC purchased a new position in Canadian Imperial Bank of Commerce during the 4th quarter worth $26,000. SBI Securities Co. Ltd. purchased a new position in Canadian Imperial Bank of Commerce during the 4th quarter worth $30,000. Sandy Spring Bank purchased a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth about $32,000. Finally, TruNorth Capital Management LLC boosted its holdings in shares of 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 worth $29,000 after buying an additional 312 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

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.