Canadian Imperial Bank of Commerce (TSE:CM) Given Consensus Recommendation of “Hold” by Analysts

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been given an average rating of “Hold” by the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is C$115.00.

Several brokerages have commented on CM. Royal Bank of Canada lowered their price objective on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$124.00 and set a “sector perform” rating on the stock in a research report on Friday, August 23rd. National Bank Financial lowered their price objective on shares of Canadian Imperial Bank of Commerce from C$115.00 to C$110.00 and set a “sector perform” rating on the stock in a research report on Friday, August 23rd. Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$125.00 to C$118.00 in a research report on Thursday, May 23rd. Barclays lowered shares of Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from C$120.00 to C$113.00 in a research report on Tuesday, June 11th. Finally, Eight Capital lowered their price objective on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$107.00 in a research report on Wednesday, August 14th.

In other Canadian Imperial Bank of Commerce news, Director Katharine Berghuis Stevenson purchased 4,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were bought at an average price of C$109.52 per share, with a total value of C$438,080.00. Following the completion of the transaction, the director now directly owns 20,352 shares in the company, valued at approximately C$2,228,951.04.

Canadian Imperial Bank of Commerce stock traded up C$1.78 during midday trading on Thursday, hitting C$111.66. 2,176,960 shares of the stock were exchanged, compared to its average volume of 1,591,367. Canadian Imperial Bank of Commerce has a 52-week low of C$97.55 and a 52-week high of C$125.21. The stock has a market capitalization of $48.47 billion and a price-to-earnings ratio of 9.79. The business’s 50-day moving average price is C$102.49 and its 200-day moving average price is C$106.25.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, August 22nd. The company reported C$3.10 EPS for the quarter, topping the consensus estimate of C$3.06 by C$0.04. The company had revenue of C$4.73 billion during the quarter, compared to the consensus estimate of C$4.67 billion. As a group, analysts predict that Canadian Imperial Bank of Commerce will post 12.3739509 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a $1.44 dividend. The ex-dividend date is Thursday, September 26th. This represents a $5.76 annualized dividend and a dividend yield of 5.16%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.40. Canadian Imperial Bank of Commerce’s payout ratio is 48.38%.

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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