Canadian Imperial Bank of Commerce (NYSE:CM) Given New $116.00 Price Target at Royal Bank of Canada
A number of other analysts have also weighed in on CM. National Bank Financial lowered shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research note on Friday. Scotiabank assumed coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They set a “sector outperform” rating on the stock. Jefferies Financial Group downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Monday, April 21st. Finally, Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, May 24th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $109.00.
NYSE:CM opened at $67.94 on Friday. The company has a fifty day moving average of $61.57 and a 200 day moving average of $62.00. 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 quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $63.87 billion, a P/E 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 earnings results on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, topping the consensus estimate of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 11.10% and a return on equity of 14.01%. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the company posted $1.75 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be given a dividend of $0.7024 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.81 annualized dividend and a dividend yield of 4.14%. Canadian Imperial Bank of Commerce’s payout ratio is presently 47.28%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Crews Bank & Trust purchased a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $25,000. Operose Advisors LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $26,000. HM Payson & Co. purchased a new stake in Canadian Imperial Bank of Commerce in the 1st quarter valued at about $29,000. TruNorth Capital Management LLC raised its holdings in 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 buying an additional 312 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $30,000. 49.88% of the stock is currently owned by hedge funds and other institutional investors.
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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