Canadian Imperial Bank of Commerce (TSE:CM) Receives C$108.67 Average Target Price from Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have earned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$108.67.

Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a report on Friday, August 29th. National Bankshares set a C$110.00 price objective on Canadian Imperial Bank of Commerce and gave the stock a “sector perform” rating in a report on Monday, September 22nd. Scotiabank raised their price objective on Canadian Imperial Bank of Commerce from C$116.00 to C$121.00 in a report on Friday, October 10th. Canaccord Genuity Group raised their price objective on Canadian Imperial Bank of Commerce from C$102.00 to C$111.00 and gave the stock a “hold” rating in a report on Friday, August 29th. Finally, TD Securities raised their price objective on Canadian Imperial Bank of Commerce from C$110.00 to C$117.00 and gave the stock a “buy” rating in a report on Friday, August 29th.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM opened at C$116.82 on Wednesday. The business’s fifty day moving average price is C$110.28 and its two-hundred day moving average price is C$99.69. The stock has a market cap of C$108.59 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. Canadian Imperial Bank of Commerce has a one year low of C$76.17 and a one year high of C$117.13.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 28th. Stockholders of record on Tuesday, October 28th were issued a dividend of $0.97 per share. The ex-dividend date was Monday, September 29th. This represents a $3.88 annualized dividend and a dividend yield of 3.3%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 46.07%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.