Canadian Imperial Bank of Commerce (TSE:CM) Receives C$125.36 Consensus Target Price from Analysts

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has earned a consensus recommendation of “Hold” from the ten analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$126.09.

A number of brokerages have issued reports on CM. Barclays boosted their price target on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research note on Monday, December 8th. Jefferies Financial Group upped their target price on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the stock a “hold” rating in a research note on Tuesday, November 25th. TD Securities raised their price target on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the company a “buy” rating in a research report on Friday, December 5th. BMO Capital Markets upped their price objective on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research report on Wednesday, December 17th. Finally, Raymond James Financial increased their price objective on Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the company a “market perform” rating in a research note on Friday, December 5th.

Canadian Imperial Bank of Commerce Stock Down 0.7%

CM opened at C$126.29 on Monday. Canadian Imperial Bank of Commerce has a 52 week low of C$76.17 and a 52 week high of C$128.87. The business has a fifty day simple moving average of C$123.38 and a 200-day simple moving average of C$112.06. The firm has a market cap of C$117.02 billion, a P/E ratio of 14.74, a P/E/G ratio of 3.03 and a beta of 1.31.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%.The firm had revenue of C$7.58 billion for the quarter. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 28th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, December 29th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 45.27%.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.