Canadian Imperial Bank of Commerce (CM) Given Average Recommendation of “Buy” by Brokerages
Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has received an average recommendation of “Buy” from the ten analysts that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$127.78.
A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$128.00 and gave the stock a “sector perform” rating in a research report on Friday, December 1st. Barclays upgraded shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “outperform” rating in a research report on Tuesday, December 19th. CSFB upped their target price on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$125.00 and gave the stock an “outperform” rating in a research report on Friday, December 1st. Citigroup lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and upped their target price for the stock from C$113.00 to C$120.00 in a research report on Wednesday, October 25th. Finally, Scotiabank upped their target price on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$135.00 in a research report on Friday, December 1st.
Canadian Imperial Bank of Commerce (TSE CM) traded down C$0.14 during trading hours on Friday, reaching C$121.79. 982,985 shares of the company’s stock were exchanged, compared to its average volume of 1,308,202. The firm has a market capitalization of $53,760.00, a price-to-earnings ratio of 10.81 and a beta of 0.77. Canadian Imperial Bank of Commerce has a 52-week low of C$103.84 and a 52-week high of C$124.37.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Thursday, December 28th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Wednesday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 45.08%.
In related news, Director Laura Lee Dottori-Attanasio sold 11,928 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of C$119.55, for a total transaction of C$1,425,992.40.
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About Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.
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