Analysts Set Canadian Imperial Bank of Commerce (TSE:CM) Target Price at $119.25

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have earned a consensus rating of “Hold” from the eight research firms that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$119.25.

Several equities analysts recently commented on CM shares. BMO Capital Markets cut their price target on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$120.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. CSFB set a C$116.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a report on Thursday, May 16th. Canaccord Genuity upped their price target on shares of Canadian Imperial Bank of Commerce from C$115.00 to C$121.00 in a report on Wednesday, May 15th. Barclays downgraded shares of Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating and cut their price target for the company from C$120.00 to C$113.00 in a report on Tuesday, June 11th. Finally, National Bank Financial cut their price target on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$115.00 and set a “sector perform” rating on the stock in a report on Thursday, May 23rd.

Canadian Imperial Bank of Commerce stock opened at C$103.51 on Tuesday. Canadian Imperial Bank of Commerce has a twelve month low of C$99.51 and a twelve month high of C$125.21. The stock has a market capitalization of $46.04 billion and a PE ratio of 9.11.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Wednesday, May 22nd. The company reported C$2.97 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.99 by C($0.02). The firm had revenue of C$4.54 billion for the quarter, compared to analysts’ expectations of C$4.54 billion. On average, research analysts anticipate that Canadian Imperial Bank of Commerce will post 12.6549216 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be issued a dividend of $1.40 per share. The ex-dividend date is Thursday, June 27th. This represents a $5.60 annualized dividend and a yield of 5.41%. Canadian Imperial Bank of Commerce’s payout ratio is 47.98%.

In related news, Director Nicholas D’orr Le Pan sold 500 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of C$103.47, for a total transaction of C$51,735.00. Following the transaction, the director now directly owns 3,019 shares in the company, valued at approximately C$312,375.93.

Canadian Imperial Bank of Commerce Company Profile

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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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