Canadian Imperial Bank of Commerce (NYSE:CM) Coverage Initiated at UBS Group

Equities research analysts at UBS Group started coverage on shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in a research note issued on Tuesday, Marketbeat Ratings reports. The firm set a “neutral” rating on the bank’s stock.

CM has been the subject of several other research reports. StockNews.com cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Thursday, June 20th. Keefe, Bruyette & Woods upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research report on Monday, June 3rd. Barclays initiated coverage on Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They issued an “underweight” rating for the company. Finally, BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $67.00.

Canadian Imperial Bank of Commerce Stock Performance

CM stock opened at $48.43 on Tuesday. Canadian Imperial Bank of Commerce has a 12-month low of $34.35 and a 12-month high of $51.14. 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 stock’s 50 day simple moving average is $48.36 and its 200 day simple moving average is $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 (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, May 30th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.07. Canadian Imperial Bank of Commerce had a return on equity of 13.06% and a net margin of 10.46%. The company had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.48 billion. As a group, equities research analysts predict that Canadian Imperial Bank of Commerce will post 5.05 EPS for the current year.

Institutional Trading of Canadian Imperial Bank of Commerce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $33,000. Glassman Wealth Services grew its holdings in shares of Canadian Imperial Bank of Commerce by 57.5% during the 4th quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock worth $33,000 after purchasing an additional 253 shares in the last quarter. Janiczek Wealth Management LLC lifted its position in shares of 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 worth $41,000 after buying an additional 222 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 574.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock worth $51,000 after buying an additional 908 shares during the period. Finally, Principal Securities Inc. bought a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $64,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

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.