Canadian Imperial Bank of Commerce (NYSE:CM) Given Average Rating of “Hold” by Brokerages

Shares of Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) have been assigned an average rating of “Hold” from the twelve research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $78.75.

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Thursday, December 22nd. Bank of America lowered shares of Canadian Imperial Bank of Commerce from a “neutral” rating to an “underperform” rating in a research report on Monday, December 12th. TD Securities lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and decreased their price target for the company from C$74.00 to C$65.00 in a research report on Tuesday, November 15th. CIBC raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and decreased their price target for the company from C$67.00 to C$61.00 in a research report on Tuesday, December 20th. Finally, Credit Suisse Group lowered shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “neutral” rating in a research report on Friday, December 9th.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Hedge funds have recently modified their holdings of the stock. Pacifica Partners Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 100.0% during the second quarter. Pacifica Partners Inc. now owns 510 shares of the bank’s stock valued at $25,000 after acquiring an additional 255 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Canadian Imperial Bank of Commerce by 162.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 510 shares of the bank’s stock worth $25,000 after buying an additional 316 shares during the period. Twin Tree Management LP increased its holdings in Canadian Imperial Bank of Commerce by 106.1% in the 3rd quarter. Twin Tree Management LP now owns 600 shares of the bank’s stock worth $26,000 after buying an additional 10,400 shares during the period. Tower View Investment Management & Research LLC increased its holdings in Canadian Imperial Bank of Commerce by 100.0% in the 2nd quarter. Tower View Investment Management & Research LLC now owns 600 shares of the bank’s stock worth $29,000 after buying an additional 300 shares during the period. Finally, Spire Wealth Management increased its holdings in Canadian Imperial Bank of Commerce by 100.0% in the 2nd quarter. Spire Wealth Management now owns 650 shares of the bank’s stock worth $32,000 after buying an additional 325 shares during the period. Institutional investors and hedge funds own 44.40% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 0.5 %

NYSE CM opened at $43.64 on Wednesday. Canadian Imperial Bank of Commerce has a 12 month low of $39.40 and a 12 month high of $65.89. The company’s 50-day moving average price is $43.34 and its 200-day moving average price is $45.89. The stock has a market cap of $39.55 billion, a PE ratio of 8.33, a PEG ratio of 2.82 and a beta of 1.01. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13.

Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) last released its quarterly earnings data on Thursday, December 1st. The bank reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.21). Canadian Imperial Bank of Commerce had a return on equity of 14.81% and a net margin of 19.88%. The business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Equities research analysts forecast that Canadian Imperial Bank of Commerce will post 5.05 earnings per share for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Wednesday, December 28th will be issued a dividend of $0.627 per share. The ex-dividend date is Tuesday, December 27th. This represents a $2.51 annualized dividend and a dividend yield of 5.75%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 48.28%.

Canadian Imperial Bank of Commerce Company Profile

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Canadian Imperial Bank of Commerce is a financial institution, which engages in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, and Corporate and Other.