Canadian Imperial Bank of Commerce (CM) Price Target Lowered to C$124.00 at Barclays

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective decreased by Barclays from C$125.00 to C$124.00 in a research note issued to investors on Friday morning.

CM has been the topic of a number of other research reports. TD Securities lifted their price objective on Canadian Imperial Bank of Commerce from C$125.00 to C$135.00 and gave the stock a buy rating in a research report on Friday, December 1st. Citigroup downgraded Canadian Imperial Bank of Commerce from a buy rating to a neutral rating and lifted their price objective for the stock from C$113.00 to C$120.00 in a research report on Wednesday, October 25th. CSFB lifted their price objective on Canadian Imperial Bank of Commerce from C$116.00 to C$125.00 and gave the stock an outperform rating in a research report on Friday, December 1st. National Bank Financial lifted their price objective on Canadian Imperial Bank of Commerce from C$125.00 to C$133.00 and gave the stock an outperform rating in a research report on Friday, December 1st. Finally, Royal Bank of Canada lifted their price objective on Canadian Imperial Bank of Commerce from C$119.00 to C$128.00 and gave the stock a sector perform rating in a research report on Friday, December 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of C$128.40.

Canadian Imperial Bank of Commerce (TSE CM) traded down C$0.42 during midday trading on Friday, hitting C$115.00. The stock had a trading volume of 724,800 shares, compared to its average volume of 1,340,000. The stock has a market capitalization of $50,880.00, a P/E ratio of 10.20 and a beta of 0.72. Canadian Imperial Bank of Commerce has a 1-year low of C$103.84 and a 1-year high of C$124.37.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, November 30th. The company reported C$2.81 EPS for the quarter, topping the Zacks’ consensus estimate of C$2.62 by C$0.19. Canadian Imperial Bank of Commerce had a return on equity of 15.90% and a net margin of 27.27%. The firm had revenue of C$4.27 billion for the quarter, compared to the consensus estimate of C$4.19 billion.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 29th. Shareholders of record on Thursday, December 28th were paid a dividend of $1.30 per share. The ex-dividend date was Wednesday, December 27th. This represents a $5.20 annualized dividend and a yield of 4.52%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 45.08%.

In other Canadian Imperial Bank of Commerce news, Director Laura Lee Dottori-Attanasio sold 11,928 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of C$119.55, for a total transaction of C$1,425,992.40.

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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.

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