Canadian Imperial Bank of Commerce (TSE:CM) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Canadian Imperial Bank of Commerce has received a consensus analyst rating of “Moderate Buy” from 11 brokerages, with seven buy ratings and four hold ratings. The average 12-month price target is C$149.68.
• Several firms recently raised their targets on CIBC, including Scotiabank to C$159.00 and National Bank Financial to C$150.00, reflecting generally improving sentiment. Other updates also lifted price objectives across the board.
• The stock recently traded at C$150.57, near its 12-month high of C$154.25, after the company reported quarterly EPS of C$2.76 and declared a quarterly dividend of $1.07 per share, implying a 2.8% yield.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM has been given an average recommendation of "Moderate Buy" by the eleven brokerages that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and seven 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$149.68.

A number of brokerages have weighed in on CM. Scotiabank increased their price target on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$159.00 and gave the company a "sector outperform" rating in a report on Monday, May 4th. Jefferies Financial Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a report on Wednesday, February 11th. Barclays upped their price objective on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research report on Monday, March 2nd. Raymond James Financial increased their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$148.50 and gave the company a "market perform" rating in a research note on Friday, February 27th. Finally, National Bank Financial lifted their target price on Canadian Imperial Bank of Commerce from C$131.00 to C$150.00 and gave the stock a "sector perform" rating in a research report on Friday, February 27th.

Canadian Imperial Bank of Commerce Stock Down 0.3%

Shares of TSE CM opened at C$150.57 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of C$88.40 and a 12 month high of C$154.25. The company has a market cap of C$138.58 billion, a P/E ratio of 15.70, a P/E/G ratio of 3.03 and a beta of 1.30. The business's 50 day moving average is C$139.62 and its two-hundred day moving average is C$129.91.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last posted its quarterly earnings data on Thursday, February 26th. The company reported C$2.76 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 14.76% and a net margin of 17.63%.The company had revenue of C$8.40 billion during the quarter. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 28th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, March 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 41.50%.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.

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