Canadian Imperial Bank of Commerce (CM) Receives Average Rating of “Hold” from Analysts

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have earned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$119.18.

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price target on Canadian Imperial Bank of Commerce from C$115.00 to C$116.00 in a research report on Tuesday, August 22nd. Scotiabank lowered their price target on Canadian Imperial Bank of Commerce from C$120.00 to C$118.00 and set a “sector perform” rating on the stock in a research report on Sunday, August 27th. Canaccord Genuity set a C$121.00 price target on Canadian Imperial Bank of Commerce in a research report on Wednesday, November 1st. Citigroup Inc. downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and boosted their price target for the stock from C$113.00 to C$120.00 in a research report on Wednesday, October 25th. Finally, TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a C$120.00 price target on the stock in a research report on Wednesday, September 6th.

In related news, Director Michelle Lynn Collins purchased 1,186 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was acquired at an average cost of C$84.30 per share, for a total transaction of C$99,979.80. Also, Director Katharine Berghuis Stevenson purchased 400 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average price of C$105.19 per share, with a total value of C$42,076.00.

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Shares of Canadian Imperial Bank of Commerce (TSE CM) traded down C$0.68 during trading on Friday, hitting C$113.44. The stock had a trading volume of 743,827 shares, compared to its average volume of 1,354,421. Canadian Imperial Bank of Commerce has a 12 month low of C$101.07 and a 12 month high of C$120.83.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, August 24th. The company reported C$2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.63 by C$0.14. The business had revenue of C$4.10 billion for the quarter, compared to the consensus estimate of C$4.01 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.50% and a net margin of 26.73%.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Thursday, September 28th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend was Wednesday, September 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.27. Canadian Imperial Bank of Commerce’s payout ratio is currently 45.36%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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