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Highlights

  • Five brokerages currently cover Canadian Imperial Bank of Commerce stock with a "Moderate Buy.”
  • Average 12-month price target from analysts tracking the stock stands at USD107.50.
  • Institutional investors now hold nearly half of the company’s outstanding shares.

Canadian Imperial Bank of Commerce (NYSE:CM, TSE:CM) has been assigned a consensus recommendation of "Moderate Buy" by five brokerages, according to Marketbeat Ratings. Out of the five, two analysts have given the stock a hold rating, while three have provided a buy recommendation. The average 12-month price objective among these analysts stands at USD107.50.

Recent updates include Royal Bank of Canada lifting its target price from USD112 to USD113 while assigning an "outperform" rating. Meanwhile, Wall Street Zen revised its stance from a "sell" to a "hold" rating earlier in August.

Institutional Activity

A number of institutional investors have adjusted their holdings in CM in recent quarters:

  • Corient Private Wealth LLC raised its stake by 38.0% in Q2, adding 3,818 shares for a total of 13,874.
  • Osaic Holdings Inc. increased its position by 137.7% in the same quarter, now holding 30,406 shares.
  • Orion Portfolio Solutions LLC grew its holdings by 11.3%, bringing its stake to 18,292 shares.
  • Public Sector Pension Investment Board boosted its position by 51.8%, now holding 7.1 million shares valued at USD503.38 million.

Collectively, institutional investors and hedge funds own 49.88% of the company’s shares, reflecting broad participation from large stakeholders.

Stock Performance and Fundamentals

At the end of the latest trading session, CM opened at USD80.74. The bank currently maintains a debt-to-equity ratio of 0.14, alongside a current and quick ratio of 1.04. Its 52-week trading range spans from USD53.62 to USD82.09.

The company carries a market capitalization of USD75.05 billion, with a price-to-earnings ratio of 13.64, a PEG ratio of 1.72, and a beta of 1.03. The 50-day moving average stands at USD75.86, compared with a 200-day moving average of USD68.44.

Earnings and Financial Results

For its latest quarter ended August 28th, Canadian Imperial Bank of Commerce reported earnings per share (EPS) of USD1.57, surpassing analyst expectations of USD1.43. Net margin reached 12.94%, while return on equity was recorded at 14.67%. Revenue for the quarter came in at USD5.24 billion, up 3.3% year-over-year and slightly above consensus estimates of USD5.12 billion.

Full-year EPS for the current fiscal year is forecast at 5.5 by analysts.

Dividend Update

The bank recently declared an increased quarterly cash dividend of USD0.97 per share, effective for shareholders of record as of September 29th, payable on October 28th. This marks an increase from the previous USD0.70 quarterly payout. On an annualized basis, the dividend amounts to USD3.88 per share, equating to a yield of 4.8%. The dividend payout ratio stands at 47.64%.