Canadian Imperial Bank of Commerce’s (CM) “Buy” Rating Reaffirmed at Fundamental Research

Fundamental Research reiterated their buy rating on shares of Canadian Imperial Bank of Commerce (TSE:CMGet Rating) (NYSE:CM) in a research note released on Wednesday morning, MarketBeat Ratings reports. The firm currently has a C$81.00 price target on the stock.

Other research analysts have also issued research reports about the stock. Cormark dropped their price target on shares of Canadian Imperial Bank of Commerce from C$83.00 to C$79.00 in a research report on Friday, August 26th. Keefe, Bruyette & Woods increased their price target on shares of Canadian Imperial Bank of Commerce from C$70.00 to C$72.00 in a research report on Friday, September 2nd. Scotiabank dropped their price target on shares of Canadian Imperial Bank of Commerce from C$166.00 to C$83.00 and set an outperform rating for the company in a research report on Friday, May 20th. BMO Capital Markets dropped their price target on shares of Canadian Imperial Bank of Commerce from C$83.00 to C$76.00 in a research report on Friday, September 2nd. Finally, Credit Suisse Group assumed coverage on shares of Canadian Imperial Bank of Commerce in a research report on Friday, May 20th. They issued a buy rating and a C$81.00 price target for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of Moderate Buy and a consensus target price of C$97.71.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at C$61.84 on Wednesday. Canadian Imperial Bank of Commerce has a 52-week low of C$59.03 and a 52-week high of C$83.75. The company has a 50-day moving average of C$63.94 and a two-hundred day moving average of C$101.78. The stock has a market capitalization of C$55.95 billion and a price-to-earnings ratio of 8.90.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Wednesday, September 28th will be issued a $0.83 dividend. The ex-dividend date is Tuesday, September 27th. This represents a $3.32 annualized dividend and a yield of 5.37%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.61%.

About Canadian Imperial Bank of Commerce

(Get Rating)

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

Further Reading

Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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