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

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

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods raised Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a report on Monday, June 3rd. BMO Capital Markets lifted their price target on Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Barclays began coverage on Canadian Imperial Bank of Commerce in a report on Wednesday, March 20th. They set an “underweight” rating on the stock. Finally, StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Thursday, June 20th. Two research 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $67.00.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $47.28 on Tuesday. The stock has a 50-day moving average price of $48.37 and a 200-day moving average price of $47.82. The firm has a market cap of $44.59 billion, a PE ratio of 9.73, 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. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its 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. The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations 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 predict that Canadian Imperial Bank of Commerce will post 5.05 earnings per share for the current fiscal year.

Institutional Trading of Canadian Imperial Bank of Commerce

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth about $404,008,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Canadian Imperial Bank of Commerce by 94.4% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,080,761 shares of the bank’s stock worth $292,949,000 after purchasing an additional 2,952,277 shares during the last quarter. TD Asset Management Inc grew its position in Canadian Imperial Bank of Commerce by 13.8% during the 4th quarter. TD Asset Management Inc now owns 22,550,346 shares of the bank’s stock worth $1,091,089,000 after purchasing an additional 2,730,076 shares during the last quarter. FIL Ltd increased its stake in Canadian Imperial Bank of Commerce by 218.0% during the 4th quarter. FIL Ltd now owns 3,195,091 shares of the bank’s stock valued at $153,841,000 after purchasing an additional 2,190,378 shares in the last quarter. Finally, Mufg Securities Canada LTD. purchased a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $94,373,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

About Canadian Imperial Bank of Commerce

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.