Canadian Imperial Bank of Commerce (TSE:CM) Given Consensus Rating of “Moderate Buy” by Brokerages

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has earned an average rating of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is C$152.86.

A number of equities research analysts have recently commented on the stock. Desjardins increased 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 report on Tuesday, May 5th. National Bank Financial increased their target price on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a research report on Friday, May 15th. TD Securities increased their target price on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Scotiabank cut shares of Canadian Imperial Bank of Commerce from a “sector outperform” rating to a “hold” rating in a research report on Monday. Finally, Canaccord Genuity Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$158.00 and gave the company a “hold” rating in a report on Friday, May 29th.

Canadian Imperial Bank of Commerce Stock Down 0.6%

Shares of TSE CM opened at C$149.27 on Thursday. The firm has a 50-day simple moving average of C$146.83 and a 200-day simple moving average of C$134.85. The stock has a market capitalization of C$137.38 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 3.03 and a beta of 1.30. Canadian Imperial Bank of Commerce has a 52 week low of C$91.94 and a 52 week high of C$162.12.

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

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th were issued a $1.07 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.9%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 40.48%.

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.