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

Key Points

• Analysts maintain a “Hold” consensus on Canadian Imperial Bank of Commerce, with seven hold ratings and five buys among 12 analysts. The average 12-month price target is C$167.79.
• Several firms recently raised their price targets, including TD to C$175 and RBC to C$176, while maintaining buy or outperform ratings; other analysts kept more neutral stances.
• CIBC reported quarterly EPS of C$2.73 on C$8.37 billion in revenue and declared a quarterly dividend of C$1.07, equivalent to a 2.7% annualized yield.

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM have received a consensus rating of "Hold" from the twelve analysts that are covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$167.79.

CM has been the topic of a number of recent analyst reports. Raymond James Financial lifted their price objective on Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the stock a "market perform" rating in a research note on Wednesday, August 12th. TD raised their price target on shares of Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Canaccord Genuity Group boosted their price target on shares of Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the stock a "hold" rating in a research report on Friday, August 28th. Royal Bank Of Canada upped their target price on Canadian Imperial Bank of Commerce from C$167.00 to C$176.00 and gave the company an "outperform" rating in a research report on Friday, August 28th. Finally, Scotiabank increased their target price on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 16th.

Canadian Imperial Bank of Commerce Stock Up 0.3%

Shares of Canadian Imperial Bank of Commerce stock opened at C$158.91 on Friday. Canadian Imperial Bank of Commerce has a twelve month low of C$109.29 and a twelve month high of C$172.87. The stock has a market cap of C$145.05 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 3.03 and a beta of 1.26. The company's fifty day moving average is C$164.43 and its 200 day moving average is C$153.11.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last announced its earnings results on Thursday, August 27th. The company reported C$2.73 earnings per share (EPS) for the quarter. The business had revenue of C$8.37 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Tuesday, July 28th were given a $1.07 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.28 annualized dividend and a yield of 2.7%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 40.12%.

Insiders Place Their Bets

In other Canadian Imperial Bank of Commerce news, insider Stephen Alan Scholtz sold 6,000 shares of the company's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of C$162.70, for a total transaction of C$976,200.00. Also, insider Amy Florence South sold 1,086 shares of the firm's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of C$162.15, for a total transaction of C$176,094.90. Insiders have sold a total of 8,286 shares of company stock valued at $1,345,399 in the last 90 days. 0.02% of the stock is currently owned by company insiders.

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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