3 days Ago By ABMN Staff
Shares of Canadian Imperial Bank of Commerce ( NYSE:CM – Get Free Report ) (TSE:CM) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $81.
00. CM has been the subject of several recent analyst reports. UBS Group initiated coverage on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, July 2nd.
They set a “neutral” rating for the company. BMO Capital Markets boosted their price objective on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.
00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Keefe, Bruyette & Woods upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research report on Monday, June 3rd. Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 30th.
Finally, StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, August 30th. Check Out Our Latest Stock Analysis on CM Canadian Imperial Bank of Commerce Price Performance Canadian Imperial Bank of Commerce ( NYSE:CM – Get Free Report ) (TSE:CM) last announced its earnings results on Thursday, August 29th.
The bank reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.
19. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.
63%. The business had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.
28 billion. During the same period in the prior year, the firm earned $1.14 earnings per share.
The business’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 5.
36 EPS for the current fiscal year. Canadian Imperial Bank of Commerce Cuts Dividend The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be given a dividend of $0.
652 per share. This represents a $2.61 dividend on an annualized basis and a dividend yield of 4.
24%. The ex-dividend date is Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 54.
73%. Institutional Inflows and Outflows Several large investors have recently bought and sold shares of CM. Vanguard Group Inc.
boosted its stake in shares of Canadian Imperial Bank of Commerce by 4.1% in the 4th quarter. Vanguard Group Inc.
now owns 35,237,455 shares of the bank’s stock valued at $1,696,331,000 after purchasing an additional 1,395,600 shares during the last quarter. M&G Plc bought a new stake in shares of Canadian Imperial Bank of Commerce in the 1st quarter valued at about $8,221,000. Cetera Advisors LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 1st quarter valued at approximately $1,278,000.
Mitsubishi UFJ Trust & Banking Corp grew its holdings in Canadian Imperial Bank of Commerce by 1,091.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 267,124 shares of the bank’s stock valued at $13,477,000 after purchasing an additional 244,700 shares during the period.
Finally, Principal Financial Group Inc. increased its stake in Canadian Imperial Bank of Commerce by 47.0% in the fourth quarter.
Principal Financial Group Inc. now owns 68,300 shares of the bank’s stock valued at $3,305,000 after purchasing an additional 21,833 shares in the last quarter. Institutional investors and hedge funds own 49.
88% of the company’s stock. Canadian Imperial Bank of Commerce Company Profile ( Get Free Report 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.
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