Canadian Imperial Bank of Commerce (TSE:CM) Receives Average Recommendation of “Hold” from Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have earned an average recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is C$119.33.

Several research analysts have recently weighed in on the stock. TD Securities cut shares of First Quantum Minerals from an “action list buy” rating to a “buy” rating and decreased their price objective for the company from C$21.00 to C$18.50 in a report on Thursday, May 23rd. Canaccord Genuity restated a “hold” rating and set a GBX 365 ($4.77) target price on shares of Crest Nicholson in a research report on Wednesday, May 15th. BMO Capital Markets restated a “hold” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. CSFB set a C$81.00 target price on shares of Toronto-Dominion Bank and gave the company an “outperform” rating in a research report on Thursday, May 16th. Finally, Citigroup cut their target price on shares of Royal Bank of Canada from C$125.00 to C$120.00 in a research report on Thursday, June 27th.

Shares of CM traded up C$0.37 during mid-day trading on Wednesday, hitting C$103.76. 593,260 shares of the company traded hands, compared to its average volume of 1,567,232. The business has a 50-day moving average price of C$103.56. Canadian Imperial Bank of Commerce has a 1 year low of C$99.51 and a 1 year high of C$125.21. The company has a market cap of $45.98 billion and a PE ratio of 9.13.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Wednesday, May 22nd. The company reported C$2.97 earnings per share for the quarter, missing the consensus estimate of C$2.99 by C($0.02). The firm had revenue of C$4.54 billion for the quarter, compared to analysts’ expectations of C$4.54 billion. Analysts forecast that Canadian Imperial Bank of Commerce will post 12.6099997 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Friday, June 28th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $5.60 annualized dividend and a yield of 5.40%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 47.98%.

In related news, Director Nicholas D’orr Le Pan sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of C$103.47, for a total transaction of C$51,735.00. Following the completion of the sale, the director now directly owns 3,019 shares in the company, valued at C$312,375.93.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, 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.

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

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