Canadian Imperial Bank Of Commerce (NYSE:CM) finished Friday with a subtraction of -$0.47 to close at $38.61, a downside of -1.20 percent. An average of 2,147,740 shares of common stock have been traded in the last five days. There was a fall of -$1.47 in the past week, and it reached a new high 7 times over the past 12 months. The last 20 days have seen an average of 1,620,445 shares traded, while the 50-day average volume stands at 1,296,500.
CM stock has decreased by -5.55% in the last month. The company shares reached their 1-month lowest point of $38.24 on 09/27/23. With the stock rallying to its 52-week high on 02/14/23, shares of the company touched a low of $38.24 and a high of $48.85 in 52 weeks. It has reached a new high 20 times so far this year and lost -4.55% or -$1.84 in price. In spite of this, the price is down -20.95% from the 52-week high.
Valuation Metrics
Canadian Imperial Bank Of Commerce (CM) has a trailing price-to-earnings (P/E) ratio of 10.61. The stock’s beta is 1.02. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.94, the price-to-book (PB) ratio at 1.02, and the price-to-cash flow ratio at 1.92.
The company has a payout ratio of 48.83%. The company’s most recent quarterly dividend payment was $0.6570 a share, representing a up of 2.34% from $0.6420 last year. Its latest increase dividend $0.0150 reported on Thursday August 31 2023.
Financial Health
Further, the company has a long term debt to equity ratio of 1.18 and a total debt to equity ratio of 3.18 for the quarter ending July 30. 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 $1.24 per share, but it turned out to be $1.13, a -8.90% surprise. At the end of the quarter ending July 30, Canadian Imperial Bank Of Commerce’s stock balance sheet showed total debt was $201.99 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 29 September was 32.18%, suggesting the stock is Neutral, with historical volatility in this time frame at 19.64%.
As of today, CM’s price is $39.23 -3.67% or -$1.47 from its 5-day moving average. CM is currently trading -2.52% lower than its 20-day SMA and -7.21% lower than its 100-day SMA. However, the stock’s current price level is -12.19% below the SMA50 and -8.72% below the SMA200.
The stochastic %K and %D were 15.45% and 23.78%, respectively, and the average true range (ATR) was 0.68. With the 14-day stochastic at 11.75% and the average true range at 0.66, the RSI (14) stands at 35.58%. The stock has reached -1.10 on the 9-day MACD Oscillator while the 14-day reading was at -1.37.
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 Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell CM, while 1 suggest investors hold. There are 2 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 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 $35.56 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 $48.52.
