Canadian Imperial Bank of Commerce (NYSE:CM) traded with an addition of $0.23 to $39.82 on Thursday, an upside of 0.58 percent. An average of 1,156,890 shares of common stock have been traded in the last five days. There was a gain of $0.06 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 1,017,297 shares traded, while the 50-day average volume stands at 1,268,551.
CM stock has decreased by -8.75% in the last month. The company shares reached their 1-month lowest point of $39.11 on 08/22/23. With the stock rallying to its 52-week high on 02/14/23, shares of the company touched a low of $39.11 and a high of $51.21 in 52 weeks. It has reached a new high 20 times so far this year and lost -1.56% or -$0.63 in price. In spite of this, the price is down -22.24% from the 52-week high.
Valuation Metrics
Canadian Imperial Bank of Commerce (CM) has a trailing price-to-earnings (P/E) ratio of 10.39. The stock’s beta is 1.04. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.40, the price-to-book (PB) ratio at 1.06, and the price-to-cash flow ratio at 2.25.
The company has a payout ratio of 87.50%. The company’s most recent quarterly dividend payment was $0.6420 a share, representing a up of 0.47% from $0.6390 last year. Its latest increase dividend $0.0030 reported on Thursday May 25 2023.
Financial Health
Further, the company has a long term debt to equity ratio of 0.14 and a total debt to equity ratio of 0.14 for the quarter ending April 29. Its gross profit as reported stood at $9.82 billion compared to revenue of $17.23 billion.
Earnings Surprise
The analyst consensus anticipated Canadian Imperial Bank of Commerce’s latest quarter earnings to come in at $1.23 per share, but it turned out to be $1.29, a 4.90% surprise. At the end of the quarter ending April 29, Canadian Imperial Bank of Commerce’s stock balance sheet showed total debt was $190.95 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Canadian Imperial Bank of Commerce (CM) price momentum. RSI 9-day as of the close on 23 August was 31.50%, suggesting the stock is Neutral, with historical volatility in this time frame at 15.91%.
As of today, CM’s price is $39.56 +0.14% or $0.06 from its 5-day moving average. CM is currently trading -8.39% lower than its 20-day SMA and -6.12% lower than its 100-day SMA. However, the stock’s current price level is -7.43% below the SMA50 and -14.02% below the SMA200.
The stochastic %K and %D were 11.30% and 7.54%, respectively, and the average true range (ATR) was 0.63. With the 14-day stochastic at 18.57% and the average true range at 0.65, the RSI (14) stands at 32.89%. The stock has reached -0.35 on the 9-day MACD Oscillator while the 14-day reading was at -1.08.
Analyst Ratings
Canaccord Genuity upgraded Canadian Imperial Bank of Commerce (NYSE: CM) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Hold. The consensus rating for Canadian Imperial Bank of Commerce (CM) among analysts is Underweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell CM, while 2 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.
What is CM’s price target for the next 12 months?
Analysts predict a range of price targets between $35.44 and $62.00, with a median target of $48.00. Taking a look at these predictions, the average price target given by analysts for Canadian Imperial Bank of Commerce (CM) stock is $48.48.
