Shares of Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (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.
Read Our Latest Stock Report on Canadian Imperial Bank of Commerce
Hedge Funds Weigh In On Canadian Imperial Bank of Commerce
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 – Get Free Report) (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.
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