Canadian Imperial Bank of Commerce (CM) Given Average Recommendation of “Buy” by Analysts

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has earned an average recommendation of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$132.00.

A number of research analysts have commented on CM shares. CSFB boosted their price objective on Canadian Imperial Bank of Commerce from C$125.00 to C$134.00 in a research note on Friday, January 19th. Canaccord Genuity boosted their price objective on Canadian Imperial Bank of Commerce from C$126.00 to C$131.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Barclays upgraded Canadian Imperial Bank of Commerce from an “underweight” rating to an “outperform” rating in a research note on Tuesday, December 19th. Royal Bank of Canada boosted their price objective on Canadian Imperial Bank of Commerce from C$138.00 to C$141.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd. Finally, Scotiabank boosted their price objective on Canadian Imperial Bank of Commerce from C$134.00 to C$135.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd.

How to Become a New Pot Stock Millionaire

CM stock traded up C$0.20 during trading on Wednesday, reaching C$110.31. 276,807 shares of the stock traded hands, compared to its average volume of 1,374,744. Canadian Imperial Bank of Commerce has a 52-week low of C$103.84 and a 52-week high of C$124.37.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, February 22nd. The company reported C$3.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$2.83 by C$0.35. Canadian Imperial Bank of Commerce had a return on equity of 18.90% and a net margin of 31.76%. The firm had revenue of C$4.46 billion during the quarter, compared to the consensus estimate of C$4.25 billion.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Wednesday, March 28th will be paid a dividend of $1.33 per share. This represents a $5.32 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Tuesday, March 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.30.

In other Canadian Imperial Bank of Commerce news, Director Katharine Berghuis Stevenson purchased 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average price of C$119.17 per share, for a total transaction of C$178,755.00.

TRADEMARK VIOLATION WARNING: This report was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://ledgergazette.com/2018/04/16/canadian-imperial-bank-of-commerce-cm-given-average-recommendation-of-buy-by-analysts.html.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply