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You Can Bank on Canadian Imperial Bank of Commerce
SSummary
- Canadian Imperial Bank of Commerce (CM) shows strong technical indicators with 100% buy signals, 18.75% gain in the last month, and RSI of 80.07%..
- Fundamental factors include a market cap of $55.94 billion, P/E of 11.41, and a dividend yield of 4.43%, with revenue and earnings growth expected..
- Analysts' opinions are mixed with 3 strong buys, 5 buys, 5 holds, and 3 underperforms; price targets range from $51 to $102.
- Barchart highlights CM's exceptional price appreciation but advises caution due to volatility, recommending diversification and regular stop-loss reevaluation.
The Chart of the Day belongs to the diversified Canadian financial institution Canadian Imperial Bank of Commerce (CM). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 8/9 the stock gained 18.67%.
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. Commercial Banking and Wealth Management; Capital Markets and Direct Financial Services; and Corporate and Other segments. It offers checking, savings, and business accounts; mortgages; business, car, and other loans; lines of credit, student lines of credit, and agriculture loans; and small business financing and overdraft protection services. The company also provides investment and insurance services; credit cards; and ATMs, as well as mobile, online, and global money and wire transfer services. Canadian Imperial Bank of Commerce was founded in 1867 and is headquartered in Toronto, Canada.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
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Barchart Technical Indicators:
- 100% technical buy signals
- 55.53+ Weighted Alpha
- 1.06 - 60 month Beta
- 55.20% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 17 new highs and up 18.75% in the last month
- Relative Strength Index 80.07%
- Technical support level at $58.59
- Recently traded at $60.52 with 50 day moving average of $51.84
Fundamental Factors:
- Market Cap $55.94 billion
- P/E 11.41
- Dividend yield 4.43%
- Revenue expected to grow 8.90% this year and another 3.90% next year
- Earnings are estimated to increase 3.40% this year, an additional 4.71% next year and continue to compound at an annual rate of 7.12% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 3 strong buy, 5 buy, 5 hold and 3 under perform opinions on the stock
- Analysts' price targets are between $51 and $67
- Value Line give the stock its average rating of 3 and has price targets between $68 and $102 with a mid-point of $85 and comments:"The stock is neutrally ranked for year-ahead performance, but it should provide solid risk adjusted total returns over the three- to five-year haul. "
- CFRAs MarketScope rates the stock a hold with a price target of $58 and comments: "CM has made a conscious effort to reduce its risk and has cut its U.S. commercial real estate office portfolio by 25% to USD3.0 billion over the past five quarters "
- MorningStar rates the stock a below average 2 star rating with Fair Value at $70 and comments:" CIBC has significantly improved multiple measures of core banking performance, such as customer perception surveys, promoter scores, and products per customer. The bank is now operating at a higher level. "
- 25,820 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
