Desjardins Raises Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$67.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective boosted by Desjardins from C$66.00 to C$67.00 in a report published on Monday morning, BayStreet.CA reports. The firm currently has a hold rating on the stock.

Several other research firms also recently weighed in on CM. TD Securities upgraded Canadian Imperial Bank of Commerce from a hold rating to a buy rating and upped their price target for the stock from C$65.00 to C$70.00 in a research note on Friday, March 1st. Scotiabank upped their target price 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 report on Friday, March 1st. BMO Capital Markets lifted their price target on shares of Canadian Imperial Bank of Commerce from C$68.00 to C$74.00 in a report on Friday, April 5th. 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 company a sector perform rating in a report on Friday, March 1st. Finally, Canaccord Genuity Group lifted their target price on Canadian Imperial Bank of Commerce from C$64.00 to C$67.00 and gave the stock a hold rating in a report on Friday, March 1st. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of Hold and an average price target of C$65.88.

Canadian Imperial Bank of Commerce Stock Performance

CM opened at C$66.11 on Monday. The stock has a market cap of C$61.96 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 3.01 and a beta of 1.10. The firm’s fifty day moving average is C$66.38 and its 200 day moving average is C$61.15. Canadian Imperial Bank of Commerce has a fifty-two week low of C$47.44 and a fifty-two week high of C$69.42.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data 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. The business had revenue of C$6.22 billion for the quarter, compared to the consensus estimate of C$6.07 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.14% and a net margin of 29.50%. On average, equities research analysts predict that Canadian Imperial Bank of Commerce will post 6.8168574 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Thursday, March 28th were issued a dividend of $0.90 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.60 annualized dividend and a yield of 5.45%. Canadian Imperial Bank of Commerce’s payout ratio 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.