Canadian Imperial Bank of Commerce (NYSE:CM) Receives $63.00 Consensus Price Target from Analysts

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have earned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $63.00.

A number of research firms recently issued reports on CM. Jefferies Financial Group initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They set a “buy” rating for the company. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, December 8th. Barclays initiated coverage on Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They set an “underweight” rating on the stock. Bank of America raised Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research note on Monday, December 18th. Finally, National Bank Financial raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating in a report on Wednesday, December 20th.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Several hedge funds and other institutional investors have recently bought and sold shares of CM. Wetherby Asset Management Inc. increased its stake in shares of Canadian Imperial Bank of Commerce by 3.0% in the 1st quarter. Wetherby Asset Management Inc. now owns 6,652 shares of the bank’s stock valued at $809,000 after acquiring an additional 193 shares in the last quarter. Janiczek Wealth Management LLC increased its stake in Canadian Imperial Bank of Commerce by 34.9% in the fourth quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock valued at $41,000 after purchasing an additional 222 shares in the last quarter. Glassman Wealth Services raised its holdings in shares of Canadian Imperial Bank of Commerce by 57.5% during the fourth quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock valued at $33,000 after purchasing an additional 253 shares during the period. Captrust Financial Advisors boosted its position in shares of Canadian Imperial Bank of Commerce by 1.5% during the 3rd quarter. Captrust Financial Advisors now owns 18,231 shares of the bank’s stock worth $798,000 after purchasing an additional 263 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Canadian Imperial Bank of Commerce by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,200 shares of the bank’s stock valued at $347,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 0.5 %

Shares of CM stock opened at $50.06 on Monday. Canadian Imperial Bank of Commerce has a fifty-two week low of $34.35 and a fifty-two week high of $51.14. The stock’s fifty day moving average price is $47.10 and its two-hundred day moving average price is $43.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $46.65 billion, a PE ratio of 10.35, a P/E/G ratio of 2.36 and a beta of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, February 29th. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.47 billion. Equities analysts predict that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.6634 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, March 27th. This represents a $2.65 annualized dividend and a yield of 5.30%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 39.46%.

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.