Published On: Wed, Sep 21st, 2016

Canadian Imperial Bank of Commerce (CM) Now Covered by Dundee Securities

Analysts at Dundee Securities started coverage on shares of Canadian Imperial Bank of Commerce (NYSE:CM) in a research note issued on Wednesday. The brokerage set a “buy” rating on the stock.
Several other equities analysts have also commented on CM. Canaccord Genuity reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $106.00 price target (down from $107.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, May 27th. TD Securities reaffirmed a “hold” rating and set a $100.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Friday, July 1st. Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, Barclays PLC reaffirmed an “underperform” rating and set a $93.00 price target (up from $87.00) on shares of Canadian Imperial Bank of Commerce in a report on Sunday, August 21st. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and an average target price of $101.00.

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) traded up 0.52% during trading on Wednesday, hitting $77.05. 61,218 shares of the stock were exchanged. The firm has a market capitalization of $30.42 billion, a P/E ratio of 9.85 and a beta of 1.03. Canadian Imperial Bank of Commerce has a 52 week low of $56.29 and a 52 week high of $82.60. The firm has a 50 day moving average price of $77.90 and a 200 day moving average price of $76.99.

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Canadian Imperial Bank of Commerce (NYSE:CM) last released its quarterly earnings results on Thursday, August 25th. The company reported $2.67 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.32. Canadian Imperial Bank of Commerce had a net margin of 22.51% and a return on equity of 18.83%. During the same quarter last year, the business earned $2.45 EPS. Analysts forecast that Canadian Imperial Bank of Commerce will post $7.66 EPS for the current fiscal year.
The company also recently declared a dividend, which will be paid on Friday, October 28th. Stockholders of record on Wednesday, September 28th will be given a $0.928 dividend. The ex-dividend date of this dividend is Monday, September 26th. This is an increase from Canadian Imperial Bank of Commerce’s previous dividend of $0.86. Canadian Imperial Bank of Commerce’s payout ratio is 47.19%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Howe & Rusling Inc. increased its position in Canadian Imperial Bank of Commerce by 15.6% in the second quarter. Howe & Rusling Inc. now owns 76,108 shares of the company’s stock worth $5,713,000 after buying an additional 10,279 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Canadian Imperial Bank of Commerce by 32.4% in the second quarter. Hillsdale Investment Management Inc. now owns 41,950 shares of the company’s stock worth $3,148,000 after buying an additional 10,270 shares during the last quarter. Legal & General Group Plc increased its position in Canadian Imperial Bank of Commerce by 1.8% in the second quarter. Legal & General Group Plc now owns 1,924,134 shares of the company’s stock worth $143,775,000 after buying an additional 34,481 shares during the last quarter. Numeric Investors LLC bought a new position in Canadian Imperial Bank of Commerce during the second quarter worth about $635,000. Finally, AHL Partners LLP increased its position in Canadian Imperial Bank of Commerce by 84.4% in the second quarter. AHL Partners LLP now owns 6,395 shares of the company’s stock worth $480,000 after buying an additional 2,927 shares during the last quarter. Institutional investors own 52.59% of the company’s stock.
About Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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