Analysts Set Canadian Imperial Bank of Commerce (CM) Target Price at $127.78

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has received a consensus recommendation of “Buy” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$127.78.

Several equities research analysts recently issued reports on CM shares. Royal Bank of Canada lifted their price target on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$128.00 and gave the stock a “sector perform” rating in a research note on Friday, December 1st. Barclays raised shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “outperform” rating in a research note on Tuesday, December 19th. CSFB lifted their price target on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$125.00 and gave the stock an “outperform” rating in a research note on Friday, December 1st. Citigroup downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and lifted their price target for the stock from C$113.00 to C$120.00 in a research note on Wednesday, October 25th. Finally, Scotiabank lifted their price target on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$135.00 in a research note on Friday, December 1st.

Canadian Imperial Bank of Commerce (CM) traded down C$0.36 during trading hours on Friday, hitting C$121.43. 77,196 shares of the company traded hands, compared to its average volume of 1,245,205. The firm has a market cap of $53,830.00, a price-to-earnings ratio of 10.81 and a beta of 0.77. Canadian Imperial Bank of Commerce has a 1-year low of C$103.84 and a 1-year high of C$124.37.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, November 30th. The company reported C$2.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$2.62 by C$0.19. Canadian Imperial Bank of Commerce had a net margin of 27.27% and a return on equity of 15.90%.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Thursday, December 28th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is 45.08%.

In other Canadian Imperial Bank of Commerce news, Director Laura Lee Dottori-Attanasio sold 11,928 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of C$119.55, for a total transaction of C$1,425,992.40.

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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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