Canadian Imperial Bank of Commerce (TSE:CM) Price Target Lowered to C$163.00 at TD

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target decreased by TD from C$166.00 to C$163.00 in a research report report published on Friday,BayStreet.CA reports. TD currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on the company. Jefferies Financial Group raised their price target on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a report on Wednesday, May 20th. Barclays upped their price target on Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research note on Monday, March 2nd. Scotiabank lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$159.00 and gave the company a “sector outperform” rating in a research report on Monday, May 4th. TD Securities upped their target price on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Canaccord Genuity Group lifted their price target 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 report on Wednesday, May 20th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$152.86.

Canadian Imperial Bank of Commerce Stock Down 0.3%

TSE CM opened at C$150.49 on Friday. Canadian Imperial Bank of Commerce has a 52 week low of C$91.94 and a 52 week high of C$162.12. The company has a market capitalization of C$138.50 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 3.03 and a beta of 1.30. The stock’s 50-day moving average price is C$145.78 and its 200-day moving average price is C$134.16.

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 for the quarter. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. The business had revenue of C$8.01 billion for the quarter. Research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) 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.