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

Key Points

• Canadian Imperial Bank of Commerce has received a consensus rating of "Hold" from nine brokerages, with one sell rating, four hold ratings, and four buy ratings.
• The average target price for the stock among brokerages is C$108.67, with price targets recently increased by multiple analysts.
• The bank announced a quarterly dividend of $0.97 to be paid on October 28th, representing a dividend yield of 3.4%.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM has received a consensus rating of "Hold" from the nine brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is C$108.67.

A number of equities analysts have weighed in on CM shares. Canaccord Genuity Group increased their price target on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$111.00 and gave the stock a "hold" rating in a research note on Friday, August 29th. TD Securities increased their price objective on shares of Canadian Imperial Bank of Commerce from C$110.00 to C$117.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Jefferies Financial Group increased their price objective on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research report on Wednesday, August 13th. Barclays increased their price objective on shares of Canadian Imperial Bank of Commerce from C$96.00 to C$106.00 and gave the stock an "underweight" rating in a research report on Friday, August 29th. Finally, Scotiabank increased their price objective on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$121.00 in a research report on Friday, October 10th.

Canadian Imperial Bank of Commerce Stock Down 0.1%

TSE:CM opened at C$113.21 on Wednesday. The company has a market cap of C$105.24 billion, a P/E ratio of 13.69, a P/E/G ratio of 3.03 and a beta of 1.37. Canadian Imperial Bank of Commerce has a fifty-two week low of C$76.17 and a fifty-two week high of C$114.98. The firm's 50 day moving average is C$108.93 and its two-hundred day moving average is C$98.29.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Tuesday, October 28th will be given a $0.97 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $3.88 annualized dividend and a dividend yield of 3.4%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 46.07%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada's fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.

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