Brokerages Set Canadian Imperial Bank of Commerce (CM) Target Price at $131.17

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received a consensus rating of “Hold” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$131.17.

A number of equities analysts recently weighed in on CM shares. Citigroup raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and upped their price target for the stock from C$125.00 to C$130.00 in a report on Wednesday, June 6th. Scotiabank reduced their price target on Canadian Imperial Bank of Commerce from C$131.00 to C$127.00 and set a “sector perform” rating for the company in a report on Thursday, May 24th. Royal Bank of Canada reduced their target price on Canadian Imperial Bank of Commerce from C$141.00 to C$135.00 and set a “sector perform” rating for the company in a report on Thursday, May 24th. Barclays increased their target price on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a report on Thursday, May 24th. Finally, National Bank Financial cut Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from C$136.00 to C$124.00 in a report on Thursday, May 24th.

Shares of Canadian Imperial Bank of Commerce traded up C$0.25, hitting C$114.36, on Monday, MarketBeat Ratings reports. The company had a trading volume of 893,200 shares, compared to its average volume of 1,281,674. Canadian Imperial Bank of Commerce has a twelve month low of C$103.84 and a twelve month high of C$124.37.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Wednesday, May 23rd. The company reported C$2.95 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.81 by C$0.14. The company had revenue of C$4.38 billion during the quarter, compared to analysts’ expectations of C$4.25 billion. Canadian Imperial Bank of Commerce had a return on equity of 18.90% and a net margin of 31.76%.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 27th. Stockholders of record on Thursday, June 28th will be given a $1.33 dividend. The ex-dividend date of this dividend is Wednesday, June 27th. This represents a $5.32 dividend on an annualized basis and a dividend yield of 4.65%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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