Analysts Set Canadian Imperial Bank of Commerce (TSE:CM) Target Price at C$66.63

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM have been given an average rating of "Hold" by the thirteen research firms that are presently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$66.63.

Several equities research analysts recently issued reports on the stock. Cormark raised their target price on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$68.00 in a research report on Friday, March 1st. BMO Capital Markets boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$68.00 to C$74.00 in a research note on Friday, April 5th. TD Securities raised Canadian Imperial Bank of Commerce from a "hold" rating to a "buy" rating and increased their target price for the stock from C$65.00 to C$70.00 in a research report on Friday, March 1st. Desjardins upped their price target on Canadian Imperial Bank of Commerce from C$66.00 to C$67.00 and gave the stock a "hold" rating in a research note on Monday, May 6th. Finally, Jefferies Financial Group raised their target price on shares of Canadian Imperial Bank of Commerce from C$76.00 to C$77.00 in a research note on Monday.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock traded up C$0.08 during midday trading on Wednesday, reaching C$66.97. 1,672,473 shares of the company were exchanged, compared to its average volume of 3,677,456. The firm's 50-day simple moving average is C$66.66 and its 200-day simple moving average is C$61.94. Canadian Imperial Bank of Commerce has a 1 year low of C$47.44 and a 1 year high of C$69.42. The company has a market capitalization of C$62.77 billion, a price-to-earnings ratio of 10.24, a P/E/G ratio of 3.01 and a beta of 1.10.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last announced its quarterly earnings data on Thursday, February 29th. The company reported C$1.81 EPS for the quarter, beating 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 business had revenue of C$6.22 billion during the quarter, compared to the consensus estimate of C$6.07 billion. On average, analysts forecast that Canadian Imperial Bank of Commerce will post 6.8168574 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Thursday, March 28th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date of this dividend was Wednesday, March 27th. Canadian Imperial Bank of Commerce's payout ratio is 55.05%.

About Canadian Imperial Bank of Commerce

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.