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

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been assigned an average rating of “Hold” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$65.38.

Several research firms recently weighed in on CM. Scotiabank boosted their target price on Canadian Imperial Bank of Commerce from C$67.00 to C$69.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. National Bankshares upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$62.00 to C$71.00 in a research note on Wednesday, December 20th. Canaccord Genuity Group boosted their target price on Canadian Imperial Bank of Commerce from C$64.00 to C$67.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. BMO Capital Markets boosted their price objective on Canadian Imperial Bank of Commerce from C$67.00 to C$68.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, TD Securities upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$65.00 to C$70.00 in a research note on Friday, March 1st.

Canadian Imperial Bank of Commerce Stock Down 0.5 %

CM stock opened at C$68.32 on Tuesday. The business has a 50 day moving average price of C$64.03 and a 200 day moving average price of C$58.69. The stock has a market cap of C$64.03 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 3.01 and a beta of 1.10. Canadian Imperial Bank of Commerce has a fifty-two week low of C$47.44 and a fifty-two week high of C$69.42.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, February 29th. The company reported C$1.81 earnings per share for the quarter, topping the consensus estimate of C$1.69 by C$0.12. The firm had revenue of C$6.22 billion during the quarter, compared to analysts’ expectations of C$6.07 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.14% and a net margin of 29.50%. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 6.8183633 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, March 28th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date of this dividend is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 55.05%.

Canadian Imperial Bank of Commerce Company Profile

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.