Analysts Set Canadian Imperial Bank of Commerce (TSE:CM) Price Target at C$65.81

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been given an average recommendation of “Hold” by the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$65.81.

CM has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their target price on Canadian Imperial Bank of Commerce from C$64.00 to C$67.00 and gave the company a “hold” rating in a report on Friday, March 1st. BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from C$68.00 to C$74.00 in a report on Friday, April 5th. Desjardins lifted their price objective on Canadian Imperial Bank of Commerce from C$64.00 to C$66.00 and gave the stock a “hold” rating in a report on Friday, March 1st. Cormark lifted their price objective on Canadian Imperial Bank of Commerce from C$64.00 to C$68.00 in a report on Friday, March 1st. Finally, TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$65.00 to C$70.00 in a report on Friday, March 1st.

Canadian Imperial Bank of Commerce Stock Down 0.2 %

Shares of TSE CM opened at C$65.32 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of C$47.44 and a 12 month high of C$69.42. The company has a market cap of C$61.22 billion, a price-to-earnings ratio of 9.99, a P/E/G ratio of 3.01 and a beta of 1.10. The business has a fifty day simple moving average of C$65.79 and a 200-day simple moving average of C$60.19.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, February 29th. The company reported C$1.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of C$6.22 billion during the quarter, compared to the consensus estimate of C$6.07 billion. As a group, sell-side analysts expect that Canadian Imperial Bank of Commerce will post 6.8195876 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, March 28th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.51%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 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.