Canadian Imperial Bank of Commerce (NYSE:CM) Stock Rating Lowered by National Bank Financial

National Bank Financial cut 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 issued on Friday morning, MarketBeat Ratings 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 research firms have also issued reports on CM. Scotiabank began coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They set a "sector outperform" rating on the stock. Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Finally, 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. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $109.00.

Canadian Imperial Bank of Commerce Trading Up 0.4%

CM traded up $0.24 during mid-day trading on Friday, hitting $67.99. 338,735 shares of the stock were exchanged, compared to its average volume of 1,124,097. The firm's fifty day moving average is $61.76 and its two-hundred day moving average is $62.00. Canadian Imperial Bank of Commerce has a 1-year low of $46.99 and a 1-year high of $69.88. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market cap of $63.92 billion, a PE ratio of 12.71, a PEG 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 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. Canadian Imperial Bank of Commerce had a return on equity of 14.01% and a net margin of 11.10%. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the company earned $1.75 EPS. Canadian Imperial Bank of Commerce's revenue was up 13.9% on a year-over-year basis. Equities analysts forecast 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. Shareholders of record on Friday, June 27th will be given a $0.7024 dividend. The ex-dividend date is Friday, June 27th. This represents a $2.81 dividend on an annualized basis and a yield of 4.13%. 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 (DPR) is currently 47.28%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Crews Bank & Trust purchased a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at about $25,000. Operose Advisors LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at about $26,000. HM Payson & Co. purchased a new position in shares of Canadian Imperial Bank of Commerce in the 1st quarter valued at about $29,000. TruNorth Capital Management LLC increased 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 valued at $29,000 after acquiring an additional 312 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 49.88% of the company's stock.

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.