Canadian Imperial Bank of Commerce (TSE:CM) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) to a hold rating in a report published on Monday, MarketBeat reports.

Several other brokerages have also recently issued reports on CM. Royal Bank Of Canada boosted their price target on Canadian Imperial Bank of Commerce from C$112.00 to C$113.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. TD Securities upped their target price on Canadian Imperial Bank of Commerce from C$117.00 to C$124.00 in a research report on Monday, November 10th. Canaccord Genuity Group increased their target price on Canadian Imperial Bank of Commerce from C$102.00 to C$111.00 and gave the stock a “hold” rating in a report on Friday, August 29th. National Bankshares set a C$110.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the stock a “sector perform” rating in a research note on Monday, September 22nd. Finally, Jefferies Financial Group raised their target price on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the company a “hold” rating in a report on Tuesday. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average target price of C$113.00.

Canadian Imperial Bank of Commerce Stock Up 0.4%

TSE CM opened at C$120.30 on Monday. The firm has a 50-day moving average price of C$115.48 and a two-hundred day moving average price of C$104.72. Canadian Imperial Bank of Commerce has a 12-month low of C$76.17 and a 12-month high of C$122.56. The company has a market capitalization of C$111.83 billion, a P/E ratio of 14.55, a P/E/G ratio of 3.03 and a beta of 1.42.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 28th. Investors of record on Tuesday, October 28th were paid a $0.97 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $3.88 annualized dividend and a yield of 3.2%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 46.07%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.