CIBC Given New $100.00 Price Target at Scotiabank (CM)
Research analysts at Scotiabank upped their price objective on shares of CIBC (NYSE:CM) from $90.00 to $100.00 in a report released on Wednesday, American Banking and Market News reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 24.35% from the stock’s previous close.
Shares of CIBC (NYSE:CM) traded up 0.85% during mid-day trading on Wednesday, hitting $80.42. The stock had a trading volume of 306,486 shares. CIBC has a 52-week low of $69.92 and a 52-week high of $84.38. The stock’s 50-day moving average is $77.04 and its 200-day moving average is $76.69. The company has a market cap of $32.167 billion and a P/E ratio of 9.53.
CIBC (NYSE:CM) last released its earnings data on Thursday, August 29th. The company reported $2.19 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.11 by $0.08. On average, analysts predict that CIBC will post $8.61 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CM. Analysts at Barclays Capital raised their price target on shares of CIBC (NYSE:CM) from $77.00 to $80.00 in a research note to investors on Tuesday. They now have an “underweight” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of CIBC (NYSE:CM) from $78.00 to $79.00 in a research note to investors on Tuesday, September 3rd. They now have a “market perform” rating on the stock. Finally, analysts at National Bank Financial raised their price target on shares of CIBC (NYSE:CM) from $85.00 to $86.00 in a research note to investors on Friday, August 30th. They now have a “sector perform” rating on the stock.
Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $85.57.
The company also recently declared a quarterly dividend, which is scheduled for Monday, October 28th. Investors of record on Friday, September 27th will be given a dividend of $0.91 per share. This represents a $3.66 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Wednesday, September 25th.
Canadian Imperial Bank of Commerce (NYSE:CM) is a global financial institution.
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