Canadian Imperial Bank of Commerce (NYSE:CM) Earns Neutral Rating from Analysts at UBS Group

UBS Group began coverage on shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “neutral” rating on the bank’s stock.

Several other brokerages have also commented on CM. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Thursday, June 20th. BMO Capital Markets raised their target price on shares of Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research note on Monday, June 3rd. Finally, Barclays assumed coverage on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They set an “underweight” rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Hold” and an average price target of $67.00.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at $48.43 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $48.36 and a 200-day moving average of $47.85. The firm has a market cap of $45.67 billion, a P/E ratio of 10.02, a P/E/G ratio of 1.87 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 1-year low of $34.35 and a 1-year high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, May 30th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.07. The company had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.48 billion. Canadian Imperial Bank of Commerce had a net margin of 10.46% and a return on equity of 13.06%. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 5.05 EPS for the current year.

Institutional Trading of Canadian Imperial Bank of Commerce

Large investors have recently made changes to their positions in the business. Janiczek Wealth Management LLC grew its holdings in Canadian Imperial Bank of Commerce by 34.9% during the 4th quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock valued at $41,000 after purchasing an additional 222 shares during the last quarter. Gulf International Bank UK Ltd grew its holdings in Canadian Imperial Bank of Commerce by 3.8% during the 1st quarter. Gulf International Bank UK Ltd now owns 6,390 shares of the bank’s stock valued at $324,000 after purchasing an additional 236 shares during the last quarter. Glassman Wealth Services boosted its position in Canadian Imperial Bank of Commerce by 57.5% in the 4th quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock valued at $33,000 after buying an additional 253 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Canadian Imperial Bank of Commerce by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,200 shares of the bank’s stock valued at $347,000 after buying an additional 300 shares during the period. Finally, Raymond James Trust N.A. boosted its position in Canadian Imperial Bank of Commerce by 2.3% in the 4th quarter. Raymond James Trust N.A. now owns 13,576 shares of the bank’s stock valued at $654,000 after buying an additional 307 shares during the period. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Company Profile

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.