Canadian Imperial Bank of Commerce (NYSE:CM) Receives $161.13 Consensus Target Price from Analysts

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has received a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $161.13.

CM has been the topic of a number of research analyst reports. BMO Capital Markets raised their target price on shares of Canadian Imperial Bank of Commerce from C$160.00 to C$165.00 and gave the company an “outperform” rating in a research note on Friday, August 27th. Scotiabank lifted their price objective on Canadian Imperial Bank of Commerce from C$166.00 to C$168.00 and gave the stock an “outperform” rating in a research note on Friday, August 27th. Canaccord Genuity increased their target price on Canadian Imperial Bank of Commerce from C$157.00 to C$161.00 and gave the company a “buy” rating in a research note on Friday, August 27th. Credit Suisse Group lifted their price target on Canadian Imperial Bank of Commerce from $149.00 to $156.00 and gave the stock a “neutral” rating in a research report on Friday, August 27th. Finally, Barclays increased their price objective on Canadian Imperial Bank of Commerce from $150.00 to $157.00 and gave the company an “overweight” rating in a research report on Friday, August 13th.

Canadian Imperial Bank of Commerce stock opened at $114.79 on Friday. Canadian Imperial Bank of Commerce has a one year low of $72.07 and a one year high of $121.11. The company’s fifty day moving average price is $115.58 and its two-hundred day moving average price is $110.03. The company has a market capitalization of $51.63 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.91 and a beta of 1.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Wednesday, August 25th. The bank reported $3.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.65 by $1.28. Canadian Imperial Bank of Commerce had a return on equity of 16.40% and a net margin of 26.13%. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period last year, the business earned $2.71 EPS. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 11.54 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 28th. Stockholders of record on Tuesday, September 28th will be given a dividend of $1.1561 per share. The ex-dividend date of this dividend is Monday, September 27th. This represents a $4.62 annualized dividend and a dividend yield of 4.03%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 67.13%.

A number of large investors have recently bought and sold shares of the stock. Capital Analysts LLC grew its position in Canadian Imperial Bank of Commerce by 764.5% in the first quarter. Capital Analysts LLC now owns 268 shares of the bank’s stock valued at $26,000 after acquiring an additional 237 shares during the period. Stonebridge Capital Advisors LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the 1st quarter worth about $34,000. Simon Quick Advisors LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the 1st quarter worth about $42,000. Allred Capital Management LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth about $60,000. Finally, BDO Wealth Advisors LLC bought a new position in Canadian Imperial Bank of Commerce during the 1st quarter valued at about $60,000. 42.97% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is a financial institution, which engages in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Small Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, and Corporate and Other.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (NYSE:CM)

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