Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$135.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price upped by BMO Capital Markets from C$130.00 to C$135.00 in a research note published on Wednesday,BayStreet.CA reports.

Several other brokerages have also issued reports on CM. Canaccord Genuity Group upped their target price on Canadian Imperial Bank of Commerce from C$102.00 to C$111.00 and gave the company a “hold” rating in a research report on Friday, August 29th. Raymond James Financial boosted their price target on Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the stock a “market perform” rating in a research note on Friday, December 5th. Desjardins upped their price objective on shares of Canadian Imperial Bank of Commerce from C$126.00 to C$132.00 and gave the company a “buy” rating in a report on Friday, December 5th. Barclays increased their price objective on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research report on Monday, December 8th. Finally, TD Securities boosted their target price on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$125.36.

Canadian Imperial Bank of Commerce Stock Up 0.7%

Shares of CM opened at C$128.17 on Wednesday. The company has a market cap of C$119.14 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 3.03 and a beta of 1.45. Canadian Imperial Bank of Commerce has a twelve month low of C$76.17 and a twelve month high of C$128.87. The company has a 50 day moving average of C$119.79 and a two-hundred day moving average of C$108.46.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results 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 business had revenue of C$7.58 billion for the quarter. On average, sell-side analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Wednesday, January 28th will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.3%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 45.27%.

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.