Brokerages Set Canadian Imperial Bank of Commerce (TSE:CM) Target Price at C$145.35
by Danessa Lincoln · The Markets DailyCanadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) has earned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$145.35.
CM has been the topic of several research reports. Barclays upped their price target on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research note on Monday, March 2nd. 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 on the stock in a research note on Wednesday, March 25th. TD Securities upped their price target on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Canaccord Genuity Group upped their price target 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. Finally, Scotiabank upped their price target on shares of Canadian Imperial Bank of Commerce from C$138.00 to C$153.00 and gave the company an “outperform” rating in a research note on Friday, February 27th.
View Our Latest Analysis on Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce Trading Down 1.3%
Shares of CM opened at C$148.48 on Wednesday. The company has a market cap of C$136.65 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 3.03 and a beta of 1.21. Canadian Imperial Bank of Commerce has a 1-year low of C$81.30 and a 1-year high of C$150.97. The company’s fifty day simple moving average is C$136.17 and its 200 day simple moving average is C$127.29.
Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last released its quarterly earnings data on Thursday, February 26th. The company reported C$2.76 EPS for the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. The firm had revenue of C$8.40 billion for the quarter. As a group, research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.
Canadian Imperial Bank of Commerce Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th will be paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 41.50%.
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.