Canadian Imperial Bank of Commerce (CM) Given Average Rating of “Buy” by Analysts

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been assigned an average recommendation of “Buy” from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$127.78.

Several brokerages recently commented on CM. National Bank Financial lifted their target price on shares of Canadian Imperial Bank of Commerce from C$125.00 to C$133.00 and gave the stock an “outperform” rating in a report on Friday, December 1st. Canaccord Genuity lifted their target price on shares of Canadian Imperial Bank of Commerce from C$126.00 to C$131.00 and gave the stock a “buy” rating in a report on Thursday. CSFB lifted their target price on shares of Canadian Imperial Bank of Commerce from C$125.00 to C$134.00 in a report on Friday, January 19th. Barclays lifted their target price on shares of Canadian Imperial Bank of Commerce from C$110.00 to C$119.00 in a report on Friday, December 1st. Finally, TD Securities lifted their target price on shares of Canadian Imperial Bank of Commerce from C$125.00 to C$135.00 and gave the stock a “buy” rating in a report on Friday, December 1st.

In other news, Director Laura Lee Dottori-Attanasio sold 11,928 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of C$119.55, for a total transaction of C$1,425,992.40.

Canadian Imperial Bank of Commerce (CM) traded down C$0.14 during mid-day trading on Friday, hitting C$121.79. 982,985 shares of the company traded hands, compared to its average volume of 1,308,202. Canadian Imperial Bank of Commerce has a 1-year low of C$103.84 and a 1-year high of C$124.37. The firm has a market cap of $53,760.00, a price-to-earnings ratio of 10.81 and a beta of 0.77.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, November 30th. The company reported C$2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.62 by C$0.19. Canadian Imperial Bank of Commerce had a net margin of 27.27% and a return on equity of 15.90%.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Thursday, December 28th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $5.20 annualized dividend and a dividend yield of 4.27%. Canadian Imperial Bank of Commerce’s payout ratio is 45.08%.

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Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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