Barclays Boosts Canadian Imperial Bank of Commerce (CM) Price Target to C$138.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price raised by Barclays from C$133.00 to C$138.00 in a research note released on Thursday morning.

Several other equities research analysts have also weighed in on CM. Canaccord Genuity upped their target price on shares of Canadian Imperial Bank of Commerce from C$126.00 to C$131.00 and gave the stock a buy rating in a report on Thursday, January 25th. Royal Bank of Canada upped their target price on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$138.00 in a report on Wednesday, February 14th. Scotiabank upped their target price on shares of Canadian Imperial Bank of Commerce from C$134.00 to C$135.00 and gave the stock a sector perform rating in a report on Friday, February 23rd. National Bank Financial upped their target price on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$136.00 and gave the stock an outperform rating in a report on Friday, February 23rd. Finally, Eight Capital upped their target price on shares of Canadian Imperial Bank of Commerce from C$134.00 to C$139.00 in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Canadian Imperial Bank of Commerce currently has a consensus rating of Hold and an average target price of C$130.33.

Shares of Canadian Imperial Bank of Commerce opened at C$114.87 on Thursday, MarketBeat.com reports. 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 announced its quarterly earnings results on Thursday, February 22nd. The company reported C$3.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$2.83 by C$0.35. The firm had revenue of C$4.46 billion for the quarter, compared to analyst estimates of C$4.25 billion. Canadian Imperial Bank of Commerce had a net margin of 31.76% and a return on equity of 18.90%.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 27th. Stockholders of record on Thursday, June 28th will be issued a $1.33 dividend. This represents a $5.32 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Wednesday, June 27th.

In related news, Director Katharine Berghuis Stevenson purchased 1,500 shares of Canadian Imperial Bank of Commerce 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.

Canadian Imperial Bank of Commerce Company Profile

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)

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