Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$160.00 at Canaccord Genuity Group

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target lifted by Canaccord Genuity Group from C$158.00 to C$160.00 in a research note released on Friday,BayStreet.CA reports. They currently have a hold rating on the stock.

CM has been the subject of several other reports. Raymond James Financial reduced their target price on Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a “market perform” rating for the company in a research report on Friday, May 29th. Scotiabank cut Canadian Imperial Bank of Commerce from a “sector outperform” rating to a “hold” rating in a research report on Monday, June 1st. National Bank Financial boosted their target price on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a research report on Friday, May 15th. Desjardins boosted their target price on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, TD Securities boosted their target price on 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. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and a consensus target price of C$153.05.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE CM opened at C$151.87 on Friday. The stock has a market cap of C$138.93 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 3.03 and a beta of 1.42. Canadian Imperial Bank of Commerce has a fifty-two week low of C$91.94 and a fifty-two week high of C$162.12. The stock has a fifty day moving average of C$147.55 and a 200-day moving average of C$135.17.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced 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 return on equity of 15.24% and a net margin of 18.44%.The company had revenue of C$8.01 billion during the quarter. On average, sell-side analysts predict 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. Stockholders of record on Tuesday, April 28th were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 40.48%.

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.