Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM)'s stock had its "market perform" rating reiterated by equities researchers at Scotia Howard Weill in a research report issued on Monday, The Fly reports.
Several other equities analysts have also recently commented on CM. ValuEngine cut Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Wednesday, April 1st. Bank of America boosted their target price on Canadian Imperial Bank of Commerce from $63.00 to $88.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 13th. TD Securities upgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "buy" rating and set a $105.00 price objective for the company in a report on Friday, March 20th. CIBC upgraded Canadian Imperial Bank of Commerce from an "underperform" rating to a "neutral" rating in a report on Tuesday, February 4th. Finally, Barclays upped their price objective on Canadian Imperial Bank of Commerce from $77.00 to $80.00 and gave the stock an "equal weight" rating in a report on Monday, May 11th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of "Hold" and a consensus price target of $96.63.
Canadian Imperial Bank of Commerce stock traded up $3.04 during midday trading on Monday, hitting $66.97. 509,272 shares of the company's stock were exchanged, compared to its average volume of 695,178. Canadian Imperial Bank of Commerce has a 52-week low of $46.45 and a 52-week high of $87.62. The stock has a 50-day moving average price of $58.89 and a two-hundred day moving average price of $73.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $28.46 billion, a P/E ratio of 9.81, a PEG ratio of 2.92 and a beta of 1.02.
Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, May 28th. The bank reported $0.94 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $1.17 by ($0.23). Canadian Imperial Bank of Commerce had a return on equity of 12.95% and a net margin of 14.81%. The business had revenue of $3.33 billion for the quarter, compared to analysts' expectations of $3.34 billion. During the same quarter in the previous year, the firm earned $2.97 earnings per share. As a group, sell-side analysts expect that Canadian Imperial Bank of Commerce will post 6.27 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ballast Advisors LLC bought a new position in Canadian Imperial Bank of Commerce during the 1st quarter valued at approximately $25,000. Enterprise Financial Services Corp raised its position in Canadian Imperial Bank of Commerce by 237.7% during the 1st quarter. Enterprise Financial Services Corp now owns 439 shares of the bank's stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Balentine LLC bought a new position in Canadian Imperial Bank of Commerce during the 1st quarter valued at approximately $27,000. Arden Trust Co bought a new position in Canadian Imperial Bank of Commerce during the 1st quarter valued at approximately $34,000. Finally, Truvestments Capital LLC bought a new position in Canadian Imperial Bank of Commerce during the 1st quarter valued at approximately $43,000. 43.46% of the stock is owned by institutional investors.
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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.
See Also: Liquidity
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