Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$67.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price increased by Desjardins from C$66.00 to C$67.00 in a research note released on Monday, BayStreet.CA reports. Desjardins currently has a hold rating on the stock.

A number of other equities analysts also recently commented on the stock. BMO Capital Markets boosted their price objective 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 objective on Canadian Imperial Bank of Commerce from C$63.00 to C$68.00 and gave the stock a sector perform rating in a research note on Friday, March 1st. Scotiabank lifted their target price on Canadian Imperial Bank of Commerce from C$67.00 to C$69.00 and gave the company an outperform rating in a research note on Friday, March 1st. Cormark increased their price target on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$68.00 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 raised their price target for the company from C$65.00 to C$70.00 in a report on Friday, March 1st. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of Hold and an average target price of C$65.88.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at C$66.73 on Monday. The company has a market capitalization of C$62.54 billion, a PE ratio of 10.20, a P/E/G ratio of 3.01 and a beta of 1.10. The firm’s 50-day moving average is C$66.44 and its 200 day moving average is C$61.28. Canadian Imperial Bank of Commerce has a 12 month low of C$47.44 and a 12 month 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, beating the consensus estimate of C$1.69 by C$0.12. Canadian Imperial Bank of Commerce had a return on equity of 12.14% and a net margin of 29.50%. The firm had revenue of C$6.22 billion during the quarter, compared to the consensus estimate of C$6.07 billion. Sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 6.8168574 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.60 annualized dividend and a dividend yield of 5.39%. Canadian Imperial Bank of Commerce’s payout ratio 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.