Royal Bank of Canada (RY) Upgraded by Zacks Investment Research to Buy

Paola Ditto
Febbraio 15, 2018

Canaccord Genuity reiterated a "buy" rating and set a $121.00 price target on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, November 30th. The institutional investor held 103,000 shares of the consumer services company at the end of 2017Q3, valued at $5.37 million, down from 143,700 at the end of the previous reported quarter. The company had revenue of $8.42 billion for the quarter, compared to the consensus estimate of $7.68 billion. It closed at $43.09 lastly. It is up 13.20% since February 14, 2017 and is uptrending. It has underperformed by 14.18% the S&P500.

1832 Asset Management Lp increased its stake in Cdn Imperial Bk Comm Toronto (CM) by 8.75% based on its latest 2017Q3 regulatory filing with the SEC. About 1.98 million shares traded or 40.62% up from the average. 1832 Asset Management Lp sold 138,808 shares as the company's stock declined 9.02% while stock markets rallied. The stock increased 1.47% or $1.34 during the last trading session, reaching $92.4. About 408,649 shares traded.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, November 29th. It has underperformed by 14.18% the S&P500.

Analysts await Canadian Imperial Bank of Commerce (NYSE:CM) to report earnings on February, 22.

More notable recent Canadian Imperial Bank of Commerce (NYSE:CM) news were published by: Business.Financialpost.com which released: "Innergex's $1.1B Alterra deal latest in a wave of Canadian utilities snapping ..." on February 06, 2018, also Theglobeandmail.com with their article: "CIBC eyeing FirstCaribbean valuation around $1.4-billion: sources" published on January 18, 2018, Prnewswire.com published: "Free Research Reports on These Banking Stocks - Banco Santander, Bank of ..." on February 09, 2018. T_NA's profit would be $478.52M giving it 11.02 P/E if the $1.40 EPS is correct. Finally, Lincoln National Corp purchased a new position in shares of Royal Bank of Canada in the 3rd quarter worth $224,000. TD Asset Management Inc. now owns 41,729,683 shares of the financial services provider's stock valued at $3,221,184,000 after buying an additional 436,782 shares during the period. It also increased its holding in Crescent Pt Energy Corp (NYSE:CPG) by 960,900 shares in the quarter, for a total of 3.01 million shares, and has risen its stake in Starbucks Corp (NASDAQ:SBUX). Zacks Investment Research upgraded Royal Bank of Canada from a "hold" rating to a "buy" rating and set a $89.00 price target on the stock in a report on Wednesday. Therefore 71% are positive. Royal Bank of Canada has a 52-week low of $66.66 and a 52-week high of $87.10. On average, analysts expect Canadian Imperial Bank of Commerce to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year. The company was downgraded on Tuesday, January 17 by Credit Suisse. The rating was initiated by Bank of America on Tuesday, November 1 with "Underperform". As per Friday, March 31, the company rating was upgraded by Credit Suisse. The stock of Canadian Imperial Bank of Commerce (NYSE:CM) earned "Neutral" rating by Macquarie Research on Friday, December 4. The rating was maintained by National Bank Canada on Friday, May 26 with "Sector Perform". The rating was upgraded by Zacks to "Hold" on Monday, September 21. Scotia Capital has "Outperform" rating and $79 target. Dundee Securities maintained Canadian Imperial Bank of Commerce (TSE:CM) on Wednesday, September 21 with "Buy" rating. Its up 0.31, from 1.16 in 2017Q2.

Jacobus Wealth Management Inc. holds 0.41% of its portfolio in Calamos Global Dynamic Income Fund for 174,357 shares. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. (NYSE:HIW). 769 were reported by Smith Asset Gp L P. 6,200 are owned by Bahl And Gaynor. Investors of record on Thursday, January 25th will be given a dividend of $0.7157 per share. Natixis stated it has 7,264 shares.

Since December 11, 2017, it had 0 insider buys, and 1 insider sale for $51,700 activity.

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