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.
TRADEMARK VIOLATION NOTICE: This article was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another website, it was stolen and reposted in violation of United States & international copyright legislation. The correct version of this article can be read at https://www.dispatchtribunal.com/2017/11/21/canadian-imperial-bank-of-commerce-cm-receives-average-rating-of-hold-from-analysts-2.html.
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.
Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.