Canadian Imperial Bank of Commerce (TSE:CM) Receives C$149.68 Consensus Target Price from Analysts

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$150.50.

Several research analysts have commented on the company. Canaccord Genuity Group raised their target price on Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the stock a “hold” rating in a research note on Friday, February 27th. Raymond James Financial raised their target price on Canadian Imperial Bank of Commerce from C$148.50 to C$157.50 and gave the stock a “market perform” rating in a research note on Wednesday. TD raised their target price on Canadian Imperial Bank of Commerce from C$153.00 to C$166.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Royal Bank Of Canada dropped their price target on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Finally, Jefferies Financial Group lifted their price target on Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research report on Wednesday, February 11th.

Canadian Imperial Bank of Commerce Stock Up 1.9%

Shares of TSE CM opened at C$153.67 on Friday. Canadian Imperial Bank of Commerce has a 52 week low of C$91.45 and a 52 week high of C$154.25. The business has a 50-day simple moving average of C$140.94 and a two-hundred day simple moving average of C$131.25. The company has a market cap of C$141.43 billion, a P/E ratio of 16.02, a P/E/G ratio of 3.03 and a beta of 1.30.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, February 26th. The company reported C$2.76 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 business had revenue of C$8.40 billion during the quarter. Equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 28th were given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 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.