Canadian Imperial Bank of Commerce (CM) Receives $129.83 Average PT from Brokerages

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has earned a consensus recommendation of “Hold” from the thirteen analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $129.83.

CM has been the topic of a number of recent research reports. Barclays reissued an “average” rating and set a $123.00 price objective on shares of Canadian Imperial Bank of Commerce in a report on Friday, March 1st. Scotiabank reaffirmed an “average” rating and issued a $126.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Friday, February 22nd. Canaccord Genuity reaffirmed an “average” rating and issued a $125.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, February 20th. Desjardins reaffirmed a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, December 11th. Finally, TD Securities reaffirmed a “buy” rating and issued a $140.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Monday, December 10th.

Shares of CM opened at $79.07 on Wednesday. The stock has a market cap of $35.34 billion, a P/E ratio of 8.47, a P/E/G ratio of 4.72 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.06 and a current ratio of 1.06. Canadian Imperial Bank of Commerce has a 52-week low of $72.96 and a 52-week high of $96.98.

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 given a dividend of $1.0616 per share. This represents a $4.25 annualized dividend and a yield of 5.37%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.03. The ex-dividend date is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.50%.

Several hedge funds have recently modified their holdings of CM. Norges Bank bought a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $309,767,000. Nordea Investment Management AB bought a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth approximately $197,655,000. APG Asset Management N.V. grew its position in shares of Canadian Imperial Bank of Commerce by 34.4% in the 4th quarter. APG Asset Management N.V. now owns 3,418,660 shares of the bank’s stock worth $222,641,000 after buying an additional 874,400 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Canadian Imperial Bank of Commerce by 65.6% in the 3rd quarter. Mackenzie Financial Corp now owns 2,020,720 shares of the bank’s stock worth $189,483,000 after buying an additional 800,818 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in shares of Canadian Imperial Bank of Commerce by 11.0% in the 4th quarter. Bank of Nova Scotia now owns 6,116,847 shares of the bank’s stock worth $455,949,000 after buying an additional 606,814 shares during the last quarter. Hedge funds and other institutional investors own 46.67% of the company’s stock.

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 (NYSE:CM)

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