Canadian Imperial Bank of Commerce (NYSE:CM) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM have been assigned an average rating of "Moderate Buy" from the eight brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $81.00.

Several equities analysts have issued reports on the company. StockNews.com downgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report 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. Bank of America upgraded Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a research report on Friday, August 30th. Cormark upgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 30th. Finally, BMO Capital Markets boosted their target price on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an "outperform" rating in a research report on Friday, August 30th.

Institutional Trading of Canadian Imperial Bank of Commerce

Institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 4.4% during the third quarter. Franklin Resources Inc. now owns 880,838 shares of the bank's stock worth $54,606,000 after purchasing an additional 37,419 shares during the period. Hobbs Group Advisors LLC lifted its stake in Canadian Imperial Bank of Commerce by 675.8% in the third quarter. Hobbs Group Advisors LLC now owns 2,211 shares of the bank's stock valued at $136,000 after buying an additional 1,926 shares in the last quarter. Geode Capital Management LLC lifted its stake in Canadian Imperial Bank of Commerce by 8.6% in the third quarter. Geode Capital Management LLC now owns 4,245,235 shares of the bank's stock valued at $262,598,000 after buying an additional 336,854 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Canadian Imperial Bank of Commerce in the third quarter valued at approximately $10,045,000. Finally, MML Investors Services LLC lifted its stake in Canadian Imperial Bank of Commerce by 0.5% in the third quarter. MML Investors Services LLC now owns 44,008 shares of the bank's stock valued at $2,699,000 after buying an additional 237 shares in the last quarter. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

CM stock traded up $0.08 during trading on Friday, hitting $64.76. The company had a trading volume of 263,765 shares, compared to its average volume of 1,367,334. The company has a fifty day moving average price of $62.78 and a two-hundred day moving average price of $55.51. 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 company has a market cap of $61.17 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.70 and a beta of 1.06. Canadian Imperial Bank of Commerce has a fifty-two week low of $39.90 and a fifty-two week high of $65.89.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) 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. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The business had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. Canadian Imperial Bank of Commerce's quarterly revenue was up 12.9% on a year-over-year basis. Equities research analysts expect that Canadian Imperial Bank of Commerce will post 5.25 earnings per share for the current fiscal year.

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.