Canadian Imperial Bank of Commerce (TSE:CM) Given Consensus Rating of “Hold” by Analysts

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been given a consensus recommendation of “Hold” by the thirteen research firms that are covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$65.81.

A number of research analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of Canadian Imperial Bank of Commerce from C$68.00 to C$74.00 in a research note on Friday, April 5th. Royal Bank of Canada upped their price target on shares of Canadian Imperial Bank of Commerce from C$63.00 to C$68.00 and gave the company a “sector perform” rating in a research note on Friday, March 1st. Canaccord Genuity Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$67.00 and gave the company a “hold” rating in a research note on Friday, March 1st. Cormark upped their price target on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$68.00 in a research note 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 target price for the stock from C$65.00 to C$70.00 in a research report on Friday, March 1st.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at C$65.43 on Friday. The firm has a market capitalization of C$61.33 billion, a PE ratio of 10.00, a P/E/G ratio of 3.01 and a beta of 1.10. The company’s 50-day moving average is C$65.71 and its 200-day moving average is C$59.96. Canadian Imperial Bank of Commerce has a fifty-two week low of C$47.44 and a fifty-two week high of C$69.42.

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

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 5.50%. The ex-dividend date of this dividend is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 55.05%.

About Canadian Imperial Bank of Commerce

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.