Analysts Set Canadian Imperial Bank of Commerce (TSE:CM) Target Price at C$65.81

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has received an average recommendation of “Hold” from the thirteen analysts that are currently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$65.81.

Several equities analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of Canadian Imperial Bank of Commerce from C$68.00 to C$74.00 in a research note on Friday, April 5th. Desjardins upped their price target on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$66.00 and gave the company a “hold” rating in a research note on Friday, March 1st. Canaccord Genuity Group increased their price objective on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$67.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. Royal Bank of Canada increased their price objective on shares of Canadian Imperial Bank of Commerce from C$63.00 to C$68.00 and gave the stock a “sector perform” rating in a research note on Friday, March 1st. Finally, Scotiabank increased their price objective on shares of Canadian Imperial Bank of Commerce from C$67.00 to C$69.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st.

Canadian Imperial Bank of Commerce Price Performance

TSE:CM opened at C$65.16 on Friday. Canadian Imperial Bank of Commerce has a one year low of C$47.44 and a one year high of C$69.42. The company has a market cap of C$61.07 billion, a P/E ratio of 9.96, a P/E/G ratio of 3.01 and a beta of 1.10. The firm’s fifty day moving average price is C$65.98 and its two-hundred day moving average price is C$60.32.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, February 29th. The company reported C$1.81 EPS for the quarter, beating the consensus estimate of C$1.69 by C$0.12. Canadian Imperial Bank of Commerce had a net margin of 29.50% and a return on equity of 12.14%. The business had revenue of C$6.22 billion for the quarter, compared to the consensus estimate of C$6.07 billion. As a group, equities research analysts expect that Canadian Imperial Bank of Commerce will post 6.8195876 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, March 28th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.60 dividend on an annualized basis and a yield of 5.52%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 55.05%.

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.