[ad_1]
Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) was the target of a large drop in short-term interest rates in January. As of January 15, a total of 15,640,000 shares were shorted, a 40.8% decrease from the December 31 total of 26,400,000 shares. Currently, 1.7% of the company’s shares are sold short. Based on an average trading volume of 948,600 shares, the days to cover ratio is currently 16.5 days.
Wall Street analysts forecast growth
→ The next big crisis is here (From Porter & Company)
CM has been the subject of several recent investigative reports. TD Securities downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and lowered the company’s price target from Cdn74.00 to Cdn65.00 in a Tuesday, January 15, report. november. CIBC raised shares of Canadian Imperial Bank of Commerce from a “sector performer” rating to an “outperform” rating and lowered its price target on the shares from C$67.00 to C$61.00 in a note of investigation on Tuesday, December 20. National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector performer” rating in a research note on Thursday, December 1. StockNews.com upgraded Canadian Imperial Bank of Commerce shares from a ‘sell’ rating to a ‘hold’ rating in a research note on Thursday, December 22. Finally, Bank of America downgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to an “underperform” rating in a research report on Monday, December 12. One investment analyst gave the stock a sell rating, seven issued a hold rating and one gave the stock a buy rating. According to MarketBeat.com, the stock currently has a “Hold” consensus rating and an average price target of $79.30.
Canadian Imperial Bank of Commerce Stock Performance
Shares of NYSE:CM were up $0.18 during trading on Friday, reaching $44.29. 149,578 shares of the company’s shares traded on hand, compared to its average volume of 807,443. The firm has a debt to equity ratio of 0.13, a current ratio of 1.04, and a quick ratio of 1.04. Canadian Imperial Bank of Commerce has a 12-month minimum of $39.40 and a 12-month maximum of $65.89. The company has a 50-day moving average of $43.20 and a 200-day moving average of $45.86. The stock has a market capitalization of $40.14 billion, a P/E ratio of 8.42, a price/earnings growth ratio of 2.83, and a beta of 1.01.
Canadian Imperial Bank of Commerce (NYSE:CM – Get Rated) (TSE:CM) last announced its quarterly earnings data on Thursday, December 1. The bank reported earnings per share of $1.08 for the quarter, below analyst consensus estimates of $1.29 per share ($0.21). The company had revenue of $4.18 billion for the quarter, compared with the consensus estimate of $4.36 billion. Canadian Imperial Bank of Commerce had a net margin of 19.88% and a return on equity of 14.81%. On average, stock analysts expect Canadian Imperial Bank of Commerce to post 5.05 EPS for the current year.
Canadian Imperial Bank of Commerce cuts dividends
The company also recently announced a quarterly dividend, to be paid on Friday, January 27. Shareholders of record on Wednesday, December 28 will receive a dividend of $0.627 per share. This represents a dividend of $2.51 on an annualized basis and a yield of 5.66%. The ex-dividend date is Tuesday, December 27. Canadian Imperial Bank of Commerce’s payment ratio is 48.28%.
Institutional trading of the Canadian Imperial Bank of Commerce
Several institutional investors have recently made changes to their positions in CM. Comerica Bank increased its stake in Canadian Imperial Bank of Commerce by 3.5% during the fourth quarter. Comerica Bank now owns 31,763 shares of the bank valued at $1,396,000 after purchasing an additional 1,062 shares last quarter. Stephens Inc. AR increased its stake in Canadian Imperial Bank of Commerce by 1.0% during the fourth quarter. Stephens Inc. AR now owns 25,885 shares of the bank valued at $1,047,000 after purchasing an additional 267 shares during the last quarter. Fifth Third Bancorp increased its stake in Canadian Imperial Bank of Commerce by 14.0% during the fourth quarter. Fifth Third Bancorp now owns 5,922 shares of the bank valued at $240,000 after purchasing an additional 725 shares during the last quarter. KJ Harrison & Partners Inc increased its holdings in Canadian Imperial Bank of Commerce shares by 5.2% during the fourth quarter. KJ Harrison & Partners Inc now owns 41,655 shares of the bank valued at $2,281,444,000 after acquiring an additional 2,041 shares during the period. Finally, the National Bank of Canada FI increased its holdings in Canadian Imperial Bank of Commerce shares by 594.2% during the fourth quarter. National Bank of Canada FI now owns 14,574,235 shares of the bank valued at $589,327,000 after acquiring an additional 12,474,796 shares during the period. 44.40% of the shares are owned by institutional investors and hedge funds.
Company Profile Canadian Imperial Bank of Commerce
(Get rating)
Canadian Imperial Bank of Commerce is a financial institution engaged in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, US Commercial Banking and Wealth Management, Corporate and Capital Markets, and Other.
read more
This instant news alert was generated by MarketBeat’s financial data and storytelling science technology to provide readers with the fastest and most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Canadian Imperial Bank of Commerce, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-performing and top-rated research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks top analysts are quietly whispering to their clients to buy now before the broader market takes notice…and Canadian Imperial Bank of Commerce wasn’t on the list.
While Canadian Imperial Bank of Commerce currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here
.
[ad_2]
news.google.com