Brokerages Set Canadian Imperial Bank of Commerce (TSE:CM) Target Price at C$65.81

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has earned an average recommendation of “Hold” from the thirteen analysts that are covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is C$65.81.

A number of research firms have commented on CM. Cormark increased their target price on Canadian Imperial Bank of Commerce from C$64.00 to C$68.00 in a report on Friday, March 1st. TD Securities upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$65.00 to C$70.00 in a research note on Friday, March 1st. Scotiabank boosted their target price on shares of Canadian Imperial Bank of Commerce from C$67.00 to C$69.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Canaccord Genuity Group raised their price target on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$67.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada lifted their price target on shares of Canadian Imperial Bank of Commerce from C$63.00 to C$68.00 and gave the company a “sector perform” rating in a report on Friday, March 1st.

Canadian Imperial Bank of Commerce Trading Up 0.9 %

Shares of TSE:CM opened at C$65.37 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of C$47.44 and a 12-month high of C$69.42. The firm has a market cap of C$61.27 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 3.01 and a beta of 1.10. The company has a fifty day simple moving average of C$66.12 and a 200 day simple moving average of C$60.45.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, February 29th. The company reported C$1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.69 by C$0.12. Canadian Imperial Bank of Commerce had a net margin of 29.50% and a return on equity of 12.14%. The business had revenue of C$6.22 billion for the quarter, compared to analyst estimates of C$6.07 billion. As a group, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 6.8195876 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 5.51%. The ex-dividend date is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 55.05%.

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