Shares of Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) have been assigned a consensus rating of “Hold” from the nine research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $57.30.

CM has been the topic of several analyst reports. Barclays dropped their target price on Canadian Imperial Bank of Commerce from $58.00 to $57.00 and set an “equal weight” rating on the stock in a report on Friday, September 1st. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, September 30th. Royal Bank of Canada reduced their price target on shares of Canadian Imperial Bank of Commerce from $72.00 to $67.00 and set a “sector perform” rating for the company in a research report on Friday, September 1st. Finally, BMO Capital Markets lowered their price objective on Canadian Imperial Bank of Commerce from $69.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, September 1st.

Read Our Latest Analysis on CM

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock opened at $37.37 on Monday. 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’s fifty day moving average price is $40.16 and its 200-day moving average price is $41.62. The stock has a market cap of $34.54 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 2.50 and a beta of 1.00. Canadian Imperial Bank of Commerce has a 12 month low of $36.31 and a 12 month high of $48.85.

Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) last announced its quarterly earnings data on Thursday, August 31st. The bank reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.11). Canadian Imperial Bank of Commerce had a return on equity of 13.29% and a net margin of 9.26%. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.29 billion. On average, equities analysts expect that Canadian Imperial Bank of Commerce will post 4.95 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, September 28th will be issued a $0.657 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $2.63 dividend on an annualized basis and a yield of 7.03%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 70.30%.

Institutional Trading of Canadian Imperial Bank of Commerce

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. raised its holdings in Canadian Imperial Bank of Commerce by 8.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,361 shares of the bank’s stock worth $1,017,000 after purchasing an additional 674 shares during the period. US Bancorp DE boosted its holdings in Canadian Imperial Bank of Commerce by 14.7% in the 1st quarter. US Bancorp DE now owns 4,323 shares of the bank’s stock worth $527,000 after buying an additional 554 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 24.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,630 shares of the bank’s stock worth $807,000 after purchasing an additional 1,287 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Canadian Imperial Bank of Commerce by 20.4% in the 1st quarter. Private Advisor Group LLC now owns 4,512 shares of the bank’s stock worth $549,000 after purchasing an additional 763 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in Canadian Imperial Bank of Commerce by 6.4% during the 1st quarter. BlackRock Inc. now owns 308,427 shares of the bank’s stock valued at $37,532,000 after buying an additional 18,653 shares in the last quarter. 43.72% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Company Profile

(Get Free Report

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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