Canadian Imperial Bank of Commerce (TSE:CM) Receives C$146.45 Average Target Price from Brokerages

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$145.35.

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group upped their target price on Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a report on Wednesday, February 11th. Royal Bank Of Canada decreased their price target on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a report on Wednesday. Raymond James Financial boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$148.50 and gave the company a “market perform” rating in a research report on Friday, February 27th. Barclays upped their price objective on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research note on Monday, March 2nd. Finally, Canaccord Genuity Group lifted their target price on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the company a “hold” rating in a research note on Friday, February 27th.

Canadian Imperial Bank of Commerce Trading Down 1.4%

Shares of CM stock opened at C$128.90 on Friday. The company has a market capitalization of C$118.63 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 3.03 and a beta of 1.32. Canadian Imperial Bank of Commerce has a 1-year low of C$76.17 and a 1-year high of C$143.80. The stock’s fifty day simple moving average is C$132.02 and its 200-day simple moving average is C$123.60.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, February 26th. The company reported C$2.76 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 14.76% and a net margin of 17.63%.The firm had revenue of C$8.40 billion during the quarter. On average, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 41.50%.

Canadian Imperial Bank of Commerce Company Profile

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.