Canadian Imperial Bank of Commerce (TSE:CM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CMGet Rating) (NYSE:CM) have earned a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is C$97.71.

A number of equities analysts have recently issued reports on CM shares. Barclays cut their price objective on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$69.00 in a research report on Monday, August 15th. Canaccord Genuity Group upped their target price on shares of Canadian Imperial Bank of Commerce from C$80.00 to C$83.00 in a report on Friday, May 27th. Keefe, Bruyette & Woods upped their target price on shares of Canadian Imperial Bank of Commerce from C$70.00 to C$72.00 in a report on Friday, September 2nd. Cormark lowered their target price on shares of Canadian Imperial Bank of Commerce from C$83.00 to C$79.00 in a report on Friday, August 26th. Finally, TD Securities lowered their target price on shares of Canadian Imperial Bank of Commerce from C$82.00 to C$78.00 and set a “buy” rating on the stock in a report on Friday, May 27th.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at C$62.20 on Friday. The stock has a market capitalization of C$56.27 billion and a PE ratio of 8.95. The company’s 50-day moving average is C$64.13 and its 200-day moving average is C$94.44. Canadian Imperial Bank of Commerce has a 1 year low of C$59.03 and a 1 year high of C$83.75.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Wednesday, September 28th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $3.32 annualized dividend and a dividend yield of 5.34%. Canadian Imperial Bank of Commerce’s payout ratio is currently 45.61%.

Canadian Imperial Bank of Commerce Company Profile

(Get Rating)

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 four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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