Canadian Imperial Bank of Commerce (TSE:CM) Receives Consensus Rating of “Hold” from Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been assigned a consensus rating of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is C$115.00.

Several research analysts recently weighed in on CM shares. Citigroup cut their target price on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$115.00 in a research note on Monday, September 9th. CSFB cut their target price on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$105.00 in a research note on Friday, September 6th. Royal Bank of Canada cut their target price on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$124.00 and set a “sector perform” rating for the company in a research note on Friday, August 23rd. BMO Capital Markets cut their target price on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$117.00 in a research note on Friday, August 23rd. Finally, National Bank Financial cut their target price on shares of Canadian Imperial Bank of Commerce from C$115.00 to C$110.00 and set a “sector perform” rating for the company in a research note on Friday, August 23rd.

In related news, Director Katharine Berghuis Stevenson acquired 4,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was bought at an average price of C$109.52 per share, with a total value of C$438,080.00. Following the purchase, the director now directly owns 20,352 shares in the company, valued at approximately C$2,228,951.04.

Shares of Canadian Imperial Bank of Commerce stock remained flat at $C$114.98 on Friday. 868,339 shares of the company traded hands, compared to its average volume of 1,606,253. Canadian Imperial Bank of Commerce has a 1-year low of C$97.55 and a 1-year high of C$116.35. The business has a 50-day moving average of C$110.64 and a two-hundred day moving average of C$106.32. The stock has a market cap of $51.14 billion and a P/E ratio of 10.08.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, August 22nd. The company reported C$3.10 EPS for the quarter, topping the consensus estimate of C$3.06 by C$0.04. The business had revenue of C$4.73 billion during the quarter, compared to analysts’ expectations of C$4.67 billion. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 12.3700014 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were paid a $1.44 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.40. The ex-dividend date was Thursday, September 26th. This represents a $5.76 annualized dividend and a yield of 5.01%. Canadian Imperial Bank of Commerce’s payout ratio is presently 48.38%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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