Brokerages Set Canadian Imperial Bank of Commerce (TSE:CM) PT at C$125.36

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received a consensus recommendation of “Hold” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$126.09.

A number of research firms have commented on CM. BMO Capital Markets lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research report on Wednesday, December 17th. Scotiabank upped their price target on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research note on Friday. Desjardins increased their price target on shares of Canadian Imperial Bank of Commerce from C$132.00 to C$135.00 and gave the company a “buy” rating in a report on Thursday, December 18th. TD Securities boosted their price objective on Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, Raymond James Financial upped their target price on Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the company a “market perform” rating in a research report on Friday, December 5th.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at C$126.29 on Monday. The stock has a 50-day simple moving average of C$123.38 and a 200 day simple moving average of C$111.84. The stock has a market capitalization of C$117.02 billion, a P/E ratio of 14.74, a PEG ratio of 3.03 and a beta of 1.31. Canadian Imperial Bank of Commerce has a 52 week low of C$76.17 and a 52 week high of C$128.87.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, December 4th. The company reported C$2.21 EPS for the quarter. The company had revenue of C$7.58 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%. Research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $4.28 dividend on an annualized basis and a yield of 3.4%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s payout ratio is currently 45.27%.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.