Canadian Imperial Bank of Commerce (TSE:CM) Receives Average Rating of “Moderate Buy” from Brokerages

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$150.68.

CM has been the topic of several recent analyst reports. TD boosted their target price on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$166.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Barclays boosted their target price on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a report on Monday, March 2nd. National Bank Financial boosted their target price on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a report on Friday. Desjardins boosted their target price on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, BMO Capital Markets upped their price objective on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the stock an “outperform” rating in a report on Friday, February 27th.

Canadian Imperial Bank of Commerce Price Performance

TSE:CM opened at C$153.34 on Friday. The firm has a market capitalization of C$141.13 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 3.03 and a beta of 1.30. The company’s 50-day moving average is C$141.25 and its two-hundred day moving average is C$131.41. Canadian Imperial Bank of Commerce has a 1-year low of C$91.60 and a 1-year high of C$154.25.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, February 26th. The company reported C$2.76 earnings per share for the quarter. The company had revenue of C$8.40 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 28th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 41.50%.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.