Canadian Imperial Bank of Commerce (TSE:CM) Receives C$65.81 Average Price Target from Analysts

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is C$65.81.

CM has been the subject of a number of research reports. TD Securities raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and upped their price target for the stock from C$65.00 to C$70.00 in a research report on Friday, March 1st. Scotiabank upped their price target on shares of Canadian Imperial Bank of Commerce from C$67.00 to C$69.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Cormark boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$68.00 in a report on Friday, March 1st. Desjardins boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$66.00 and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, Canaccord Genuity Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$67.00 and gave the stock a “hold” rating in a report on Friday, March 1st.

Canadian Imperial Bank of Commerce Stock Down 0.7 %

Shares of TSE CM opened at C$65.16 on Friday. The firm has a fifty day moving average of C$65.98 and a 200-day moving average of C$60.32. Canadian Imperial Bank of Commerce has a 52-week low of C$47.44 and a 52-week high of C$69.42. The stock has a market capitalization of C$61.07 billion, a PE ratio of 9.96, a P/E/G ratio of 3.01 and a beta of 1.10.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, February 29th. The company reported C$1.81 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.69 by C$0.12. Canadian Imperial Bank of Commerce had a net margin of 29.50% and a return on equity of 12.14%. The firm had revenue of C$6.22 billion during the quarter, compared to analysts’ expectations of C$6.07 billion. Equities research analysts expect that Canadian Imperial Bank of Commerce will post 6.8195876 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, March 28th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.52%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 55.05%.

Canadian Imperial Bank of Commerce Company Profile

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.