Canadian Imperial Bank of Commerce (TSE:CM) Receives C$65.38 Consensus Price Target from Analysts

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has earned a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is C$65.38.

CM has been the topic of several research reports. Canaccord Genuity Group raised their target price 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. Royal Bank of Canada increased their price target on shares of Canadian Imperial Bank of Commerce from C$63.00 to C$68.00 and gave the stock a “sector perform” rating in a research report on Friday, March 1st. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating and increased their price target for the stock from C$63.00 to C$66.00 in a research report on Monday, December 18th. BMO Capital Markets increased their price target on shares of Canadian Imperial Bank of Commerce from C$67.00 to C$68.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, TD Securities upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and increased their price target for the stock from C$65.00 to C$70.00 in a research report on Friday, March 1st.

Canadian Imperial Bank of Commerce Stock Up 1.1 %

TSE:CM opened at C$68.67 on Tuesday. The company’s 50 day moving average price is C$63.73 and its 200-day moving average price is C$58.46. 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 cap of C$64.36 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 3.01 and a beta of 1.10.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, February 29th. The company reported C$1.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of C$6.22 billion for the quarter, compared to analysts’ expectations of C$6.07 billion. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 6.8183633 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date of this dividend is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is 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.