Canadian Imperial Bank of Commerce (TSE:CM) Receives Average Recommendation of “Hold” from Analysts

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have earned a consensus recommendation of “Hold” from the nine research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is C$108.25.

CM has been the subject of a number of recent research reports. BMO Capital Markets increased their price objective on shares of Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a research note on Friday, August 29th. Barclays increased their price target on shares of Canadian Imperial Bank of Commerce from C$96.00 to C$106.00 and gave the stock an “underweight” rating in a research report on Friday, August 29th. Scotiabank lifted their price objective on Canadian Imperial Bank of Commerce from C$101.00 to C$116.00 and gave the company an “outperform” rating in a report on Friday, August 29th. TD Securities increased their target price on Canadian Imperial Bank of Commerce from C$110.00 to C$117.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Finally, Desjardins raised their target price on Canadian Imperial Bank of Commerce from C$106.00 to C$113.00 and gave the stock a “buy” rating in a research report on Friday, August 29th.

Canadian Imperial Bank of Commerce Trading Up 0.8%

Shares of TSE CM opened at C$113.65 on Friday. The firm has a market capitalization of C$105.65 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 3.03 and a beta of 1.33. Canadian Imperial Bank of Commerce has a one year low of C$76.17 and a one year high of C$114.08. The business has a fifty day simple moving average of C$105.76 and a 200 day simple moving average of C$95.60.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Tuesday, October 28th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, September 29th. Canadian Imperial Bank of Commerce’s payout ratio is currently 46.07%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.