Canadian Imperial Bank of Commerce Price Target Cut to C$113.00 (CM)
Analysts at Scotiabank dropped their price target on shares of Canadian Imperial Bank of Commerce (NYSE:CM) from C$114.00 to C$113.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays reiterated an “underweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, August 19th. They now have a $105.00 price target on the stock, up previously from $100.00. Separately, analysts at Macquarie upgraded shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. Finally, analysts at Macquarie initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Monday, July 14th. They set an “outperform” rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $98.73.
Shares of Canadian Imperial Bank of Commerce (NYSE:CM) traded up 0.34% on Friday, hitting $95.46. 111,690 shares of the company’s stock traded hands. Canadian Imperial Bank of Commerce has a 52-week low of $76.55 and a 52-week high of $97.23. The stock’s 50-day moving average is $92.92 and its 200-day moving average is $88.71. The company has a market cap of $37.933 billion and a price-to-earnings ratio of 13.22.
Canadian Imperial Bank of Commerce (NYSE:CM) last issued its quarterly earnings data on Thursday, August 28th. The company reported $2.04 earnings per share for the quarter, meeting the analysts’ consensus estimate of $2.04. Analysts expect that Canadian Imperial Bank of Commerce will post $8.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 28th. Investors of record on Monday, September 29th will be given a dividend of $0.9137 per share. This represents a $3.65 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Thursday, September 25th.
Canadian Imperial Bank of Commerce (NYSE:CM) is a global financial institution.
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