Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has received a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $121.14.

A number of equities research analysts have recently weighed in on CM shares. Citigroup raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 6th. CIBC raised shares of Canadian Imperial Bank of Commerce to a “buy” rating and lifted their target price for the company from $125.00 to $130.00 in a research note on Wednesday, June 6th. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research note on Wednesday, May 16th. ValuEngine raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Finally, Royal Bank of Canada cut their target price on shares of Canadian Imperial Bank of Commerce from $141.00 to $135.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 24th.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank boosted its stake in Canadian Imperial Bank of Commerce by 34.7% during the second quarter. Toronto Dominion Bank now owns 11,741,312 shares of the bank’s stock worth $1,024,111,000 after acquiring an additional 3,025,599 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its stake in Canadian Imperial Bank of Commerce by 33.9% during the second quarter. OMERS ADMINISTRATION Corp now owns 5,120,519 shares of the bank’s stock worth $445,158,000 after acquiring an additional 1,296,629 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Canadian Imperial Bank of Commerce by 19.1% during the first quarter. The Manufacturers Life Insurance Company now owns 4,764,698 shares of the bank’s stock worth $420,628,000 after acquiring an additional 762,791 shares in the last quarter. Letko Brosseau & Associates Inc. boosted its stake in Canadian Imperial Bank of Commerce by 123.9% during the second quarter. Letko Brosseau & Associates Inc. now owns 954,335 shares of the bank’s stock worth $82,966,000 after acquiring an additional 528,089 shares in the last quarter. Finally, Unigestion Holding SA bought a new stake in Canadian Imperial Bank of Commerce during the second quarter worth about $36,970,000. 44.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CM stock traded up $1.15 during mid-day trading on Tuesday, reaching $92.67. The stock had a trading volume of 10,115 shares, compared to its average volume of 338,180. Canadian Imperial Bank of Commerce has a 52-week low of $83.02 and a 52-week high of $100.01. The stock has a market capitalization of $40.25 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 1.62 and a beta of 1.15. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.15.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Wednesday, May 23rd. The bank reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.74. Canadian Imperial Bank of Commerce had a net margin of 21.28% and a return on equity of 17.55%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.38 billion. During the same quarter in the previous year, the company earned $2.64 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. equities analysts predict that Canadian Imperial Bank of Commerce will post 9.23 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 27th. Stockholders of record on Thursday, June 28th were paid a dividend of $1.036 per share. This represents a $4.14 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date was Wednesday, June 27th. Canadian Imperial Bank of Commerce’s payout ratio is 46.23%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, 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.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (NYSE:CM)

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