Canadian Imperial Bank of Commerce’s (CM) Hold Rating Reiterated at BMO Capital Markets

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM)‘s stock had its “hold” rating reissued by investment analysts at BMO Capital Markets in a research note issued to investors on Friday.

Several other equities analysts have also weighed in on CM. ValuEngine lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Zacks Investment Research lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. TheStreet raised Canadian Imperial Bank of Commerce from a “c” rating to a “b-” rating in a research note on Thursday, August 23rd. Barclays reissued a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, November 16th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, November 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $122.00.

NYSE:CM traded down $0.77 during mid-day trading on Friday, hitting $83.88. The company had a trading volume of 451,868 shares, compared to its average volume of 368,672. Canadian Imperial Bank of Commerce has a fifty-two week low of $83.09 and a fifty-two week high of $100.01. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $38.75 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 1.65 and a beta of 1.18.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, November 29th. The bank reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.73. Canadian Imperial Bank of Commerce had a return on equity of 17.77% and a net margin of 21.27%. The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.59 billion. During the same quarter in the prior year, the firm posted $2.81 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Sell-side analysts predict that Canadian Imperial Bank of Commerce will post 9.28 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the third quarter worth about $195,000. Mawer Investment Management Ltd. bought a new position in shares of Canadian Imperial Bank of Commerce during the second quarter worth about $205,000. Providence Wealth Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the third quarter worth about $214,000. Evercore Wealth Management LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the third quarter worth about $216,000. Finally, Iberiabank Corp bought a new position in shares of Canadian Imperial Bank of Commerce during the third quarter worth about $217,000. 46.36% of the stock is currently owned by institutional investors.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Further Reading: Market Capitalization – What it Means for Investors

Analyst Recommendations for Canadian Imperial Bank of Commerce (NYSE:CM)

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