Canadian Imperial Bank of Commerce (TSE:CM) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Canadian Imperial Bank of Commerce (TSE:CM) has received a consensus rating of "Hold" from nine research firms, with one sell rating, four hold ratings, and four buy ratings.
• Recent analyst price targets for the stock have ranged from C$94.00 to C$116.00, reflecting a moderate optimism among analysts on its future performance.
• The bank announced a quarterly dividend of $0.97 per share, set to be paid on October 28th, resulting in an annualized dividend yield of 3.5%.

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM have earned a consensus recommendation of "Hold" from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is C$108.25.

CM has been the topic of several recent analyst reports. Jefferies Financial Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a report on Wednesday, August 13th. National Bankshares set a C$110.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company a "sector perform" rating in a research note on Monday, September 22nd. Scotiabank lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$101.00 to C$116.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Royal Bank Of Canada boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$112.00 to C$113.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Finally, Desjardins raised their target price on Canadian Imperial Bank of Commerce from C$106.00 to C$113.00 and gave the stock a "buy" rating in a research note on Friday, August 29th.

Canadian Imperial Bank of Commerce Price Performance

Shares of TSE CM opened at C$112.44 on Friday. Canadian Imperial Bank of Commerce has a 1-year low of C$76.17 and a 1-year high of C$113.51. The stock has a market capitalization of C$104.52 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 3.03 and a beta of 1.33. The business has a fifty day moving average price of C$104.65 and a 200 day moving average price of C$94.52.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Tuesday, October 28th will be given a $0.97 dividend. The ex-dividend date is Monday, September 29th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.5%. Canadian Imperial Bank of Commerce's dividend payout ratio is 46.07%.

About Canadian Imperial Bank of Commerce

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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