Canadian Imperial Bank of Commerce (TSE:CM) had its price target decreased by equities researchers at RBC Capital from C$107.00 to C$106.00 in a report released on Friday, StockTargetPrices.com reports. The brokerage presently has a “sector perform” rating on the stock. RBC Capital’s target price suggests a potential upside of 3.62% from the stock’s previous close.

Several other analysts have also recently weighed in on CM. National Bank Financial dropped their price target on Canadian Imperial Bank of Commerce from C$100.00 to C$93.00 in a report on Wednesday, February 10th. Barclays dropped their price target on Canadian Imperial Bank of Commerce from C$93.00 to C$74.00 in a report on Wednesday, February 17th. Keefe, Bruyette & Woods dropped their price target on Canadian Imperial Bank of Commerce from C$97.00 to C$92.00 in a report on Friday, February 19th. CIBC dropped their price target on Canadian Imperial Bank of Commerce from C$96.00 to C$95.00 in a report on Friday, February 26th. Finally, Scotiabank dropped their price target on Canadian Imperial Bank of Commerce from C$102.00 to C$99.00 and set a “sector perform” rating for the company in a report on Friday, February 26th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of C$100.15.

Shares of Canadian Imperial Bank of Commerce (TSE:CM) traded down 0.02% during midday trading on Friday, reaching $102.28. 180,883 shares of the company’s stock traded hands. Canadian Imperial Bank of Commerce has a 52-week low of $82.19 and a 52-week high of $104.30. The firm has a market capitalization of $40.42 billion and a P/E ratio of 11.34. The stock’s 50 day moving average price is $99.87 and its 200 day moving average price is $94.95.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 28th. Shareholders of record on Tuesday, June 28th will be given a $1.21 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.18. This represents a $4.84 dividend on an annualized basis and a dividend yield of 4.73%.

Canadian Imperial Bank of Commerce (CIBC) is a Canada-based financial institution. CIBC serves its clients through three strategic business units: Retail and Business Banking, Wealth Management and Wholesale Banking. Its three main operating groups are supported by six functional groups: Technology and Operations; Corporate Development; Finance; Treasury; Administration; and Risk Management, which form part of Corporate and Other.

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