Analysts Set Canadian Imperial Bank of Commerce (CM) PT at $128.40

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has earned an average recommendation of “Hold” from the ten ratings firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$128.40.

A number of equities research analysts have weighed in on CM shares. Desjardins lowered their price objective on Canadian Imperial Bank of Commerce from C$133.00 to C$125.00 in a research note on Tuesday, December 11th. Eight Capital lowered their price objective on Canadian Imperial Bank of Commerce from C$132.00 to C$131.00 in a research note on Friday, November 30th. National Bank Financial lowered their price objective on Canadian Imperial Bank of Commerce from C$127.00 to C$122.00 and set a “sector perform” rating for the company in a research note on Friday, November 30th. TD Securities decreased their target price on Canadian Imperial Bank of Commerce from C$140.00 to C$135.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Finally, BMO Capital Markets decreased their target price on Canadian Imperial Bank of Commerce from C$135.00 to C$130.00 in a research report on Friday, November 30th.

Shares of TSE CM opened at C$105.60 on Wednesday. Canadian Imperial Bank of Commerce has a fifty-two week low of C$99.51 and a fifty-two week high of C$125.21. The company has a market cap of $46.88 billion and a price-to-earnings ratio of 9.34.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, March 28th will be issued a $1.40 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.36. The ex-dividend date is Wednesday, March 27th. This represents a $5.60 annualized dividend and a dividend yield of 5.30%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 47.61%.

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 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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