Canaccord Genuity Group Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target raised by Canaccord Genuity Group from C$153.00 to C$158.00 in a report published on Friday morning,BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

CM has been the subject of several other reports. Desjardins upped their target price on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Barclays increased their target price on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research note on Monday, March 2nd. TD Securities boosted their price target on Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Royal Bank Of Canada reduced their price objective 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, Raymond James Financial lowered their price objective on Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a “market perform” rating on the stock in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and an average price target of C$152.86.

Canadian Imperial Bank of Commerce Trading Down 0.3%

Shares of Canadian Imperial Bank of Commerce stock opened at C$150.49 on Friday. Canadian Imperial Bank of Commerce has a 1-year low of C$91.94 and a 1-year high of C$162.12. The firm has a fifty day simple moving average of C$145.78 and a 200-day simple moving average of C$134.16. The stock has a market capitalization of C$138.50 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 3.03 and a beta of 1.30.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The company had revenue of C$8.01 billion for the quarter. As a group, research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 28th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 41.50%.

About Canadian Imperial Bank of Commerce

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.