Canadian Imperial Bank of Commerce (TSE:CM) Receives C$65.81 Consensus Target Price from Brokerages

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM has been assigned a consensus recommendation of "Hold" from the thirteen analysts that are covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$65.81.

CM has been the topic of several research reports. Cormark boosted their price target on Canadian Imperial Bank of Commerce from C$64.00 to C$68.00 in a research note on Friday, March 1st. TD Securities raised Canadian Imperial Bank of Commerce from a "hold" rating to a "buy" rating and lifted their price objective for the company from C$65.00 to C$70.00 in a report on Friday, March 1st. Royal Bank of Canada lifted their price objective on 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. Desjardins lifted their price objective on Canadian Imperial Bank of Commerce from C$64.00 to C$66.00 and gave the company a "hold" rating in a report on Friday, March 1st. Finally, BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from C$68.00 to C$74.00 in a report on Friday, April 5th.

Canadian Imperial Bank of Commerce Price Performance

CM traded up C$0.41 during trading on Friday, reaching C$65.43. 4,771,493 shares of the stock traded hands, compared to its average volume of 3,682,348. The stock has a market cap of C$61.33 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 3.01 and a beta of 1.10. Canadian Imperial Bank of Commerce has a fifty-two week low of C$47.44 and a fifty-two week high of C$69.42. The stock's 50-day simple moving average is C$65.71 and its two-hundred day simple moving average is C$60.02.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last announced its quarterly earnings results on Thursday, February 29th. The company reported C$1.81 earnings per share for the quarter, topping analysts' consensus estimates of C$1.69 by C$0.12. Canadian Imperial Bank of Commerce had a return on equity of 12.14% and a net margin of 29.50%. The company had revenue of C$6.22 billion during the quarter, compared to analysts' expectations of C$6.07 billion. Research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.8195876 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.60 annualized dividend and a yield of 5.50%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 55.05%.

Canadian Imperial Bank of Commerce Company Profile

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.