Canadian Imperial Bank of Commerce (CM) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received an average rating of “Hold” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$119.18.

Several equities analysts have recently weighed in on the stock. Barclays PLC increased their price objective on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$110.00 in a research report on Friday, August 11th. Keefe, Bruyette & Woods increased their price objective on shares of Canadian Imperial Bank of Commerce from C$115.00 to C$116.00 in a research report on Tuesday, August 22nd. Canaccord Genuity set a C$121.00 price objective on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, November 1st. TD Securities raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a C$120.00 price objective on the stock in a research report on Wednesday, September 6th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a C$118.00 price objective on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 25th.

Shares of Canadian Imperial Bank of Commerce (TSE CM) traded up C$0.92 during mid-day trading on Friday, reaching C$115.10. 1,295,566 shares of the company’s stock were exchanged, compared to its average volume of 1,344,783. Canadian Imperial Bank of Commerce has a 12-month low of C$103.37 and a 12-month high of C$120.83.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, August 24th. The company reported C$2.77 EPS for the quarter, beating analysts’ consensus estimates of C$2.63 by C$0.14. The firm had revenue of C$4.10 billion during the quarter, compared to analysts’ expectations of C$4.01 billion. Canadian Imperial Bank of Commerce had a net margin of 26.73% and a return on equity of 16.50%.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Thursday, September 28th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.52%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Wednesday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 45.36%.

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In other Canadian Imperial Bank of Commerce news, Director Michelle Lynn Collins purchased 1,186 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were acquired at an average cost of C$84.30 per share, with a total value of C$99,979.80. Also, Director Katharine Berghuis Stevenson purchased 400 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of C$105.19 per share, for a total transaction of C$42,076.00.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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