Canadian Imperial Bank of Commerce (TSE:CM) Price Target Cut to C$155.50 by Analysts at Raymond James Financial

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective decreased by Raymond James Financial from C$157.50 to C$155.50 in a research report report published on Friday morning,BayStreet.CA reports. Raymond James Financial currently has a market perform rating on the stock.

A number of other equities analysts have also weighed in on CM. Canaccord Genuity Group lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$145.00 to C$153.00 and gave the company a “hold” rating in a research report on Wednesday, May 20th. Scotiabank boosted their price target on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$159.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 4th. Royal Bank Of Canada cut their price target on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Barclays lifted their price objective on Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a report on Monday, March 2nd. Finally, Jefferies Financial Group increased their target price on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research note on Wednesday, May 20th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and an average target price of C$152.86.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at C$150.49 on Friday. The company has a market cap of C$138.50 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 3.03 and a beta of 1.30. The company has a fifty day moving average price of C$145.78 and a 200 day moving average price of C$134.16. Canadian Imperial Bank of Commerce has a 12 month low of C$91.94 and a 12 month high of C$162.12.

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

Canadian Imperial Bank of Commerce Announces Dividend

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

Canadian Imperial Bank of Commerce Company Profile

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.