Brokerages Set Canadian Imperial Bank of Commerce (TSE:CM) Price Target at C$62.73

Shares of Canadian Imperial Bank of Commerce (TSE:CMGet Free Report) (NYSE:CM) have earned a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$62.86.

CM has been the subject of several recent research reports. Keefe, Bruyette & Woods cut their price target on Canadian Imperial Bank of Commerce from C$58.00 to C$56.00 and set a “market perform” rating for the company in a report on Thursday, November 23rd. Bank of America raised Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating and increased their price target for the company from C$63.00 to C$66.00 in a report on Monday, December 18th. Royal Bank of Canada cut their price target on Canadian Imperial Bank of Commerce from C$66.00 to C$63.00 and set a “sector perform” rating for the company in a report on Friday, December 1st. BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from C$65.00 to C$67.00 and gave the company an “outperform” rating in a report on Friday, December 1st. Finally, Scotiabank increased their price objective on Canadian Imperial Bank of Commerce from C$57.00 to C$62.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 20th.

Get Our Latest Research Report on Canadian Imperial Bank of Commerce

Insider Activity at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Christina Charlotte Kramer sold 15,446 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of C$57.19, for a total value of C$883,356.74. 0.03% of the stock is currently owned by company insiders.

Canadian Imperial Bank of Commerce Trading Down 0.4 %

Shares of CM stock opened at C$60.30 on Monday. The company has a market capitalization of C$56.15 billion, a P/E ratio of 11.85, a P/E/G ratio of 31.58 and a beta of 1.10. The business’s 50 day moving average is C$61.36 and its two-hundred day moving average is C$56.14. Canadian Imperial Bank of Commerce has a 12-month low of C$47.44 and a 12-month high of C$64.43.

Canadian Imperial Bank of Commerce (TSE:CMGet Free Report) (NYSE:CM) last announced its earnings results on Thursday, November 30th. The company reported C$1.57 EPS for the quarter, missing analysts’ consensus estimates of C$1.58 by C($0.01). Canadian Imperial Bank of Commerce had a net margin of 23.44% and a return on equity of 9.72%. The firm had revenue of C$5.84 billion for the quarter, compared to analyst estimates of C$5.86 billion. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 6.5474138 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 29th. Investors of record on Thursday, December 28th were issued a $0.90 dividend. The ex-dividend date was Wednesday, December 27th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.87. This represents a $3.60 dividend on an annualized basis and a yield of 5.97%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 70.73%.

Canadian Imperial Bank of Commerce Company Profile

(Get Free Report

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.

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

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