Canadian Imperial Bank of Commerce (NYSE:CM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $81.00.

A number of research analysts have issued reports on the company. BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research note on Friday, August 30th. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Desjardins upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 2nd. Finally, Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th.

Canadian Imperial Bank of Commerce Trading Up 0.2 %

Shares of NYSE CM opened at $64.78 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of $39.90 and a 12-month high of $65.89. The company has a market cap of $61.19 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 1.70 and a beta of 1.06. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $62.78 and its 200 day simple moving average is $55.51.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, August 29th. The bank reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. The company had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.28 billion. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.50%. Canadian Imperial Bank of Commerce’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 earnings per share. Equities research analysts expect that Canadian Imperial Bank of Commerce will post 5.25 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ridgewood Investments LLC acquired a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter worth about $29,000. BNP Paribas Financial Markets acquired a new position in Canadian Imperial Bank of Commerce in the 3rd quarter worth approximately $44,000. Blue Trust Inc. grew its position in Canadian Imperial Bank of Commerce by 571.6% during the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock worth $45,000 after purchasing an additional 623 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter valued at $51,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Canadian Imperial Bank of Commerce by 23.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

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.