BMO Capital Markets Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price boosted by BMO Capital Markets from C$130.00 to C$135.00 in a report issued on Wednesday,BayStreet.CA reports.

Other analysts also recently issued research reports about the company. Royal Bank Of Canada boosted their price objective on Canadian Imperial Bank of Commerce from C$114.00 to C$131.00 in a report on Friday, December 5th. TD Securities raised their target price on shares of 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. National Bankshares boosted their price target on shares of Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the company a “sector perform” rating in a report on Friday, December 5th. Scotiabank upped their price target on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$133.00 and gave the company an “outperform” rating in a research report on Friday, December 5th. Finally, Canaccord Genuity Group raised their price objective on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$111.00 and gave the stock a “hold” rating in a research note on Friday, August 29th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Hold” and a consensus price target of C$125.09.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM opened at C$126.23 on Wednesday. The company has a market capitalization of C$117.34 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 3.03 and a beta of 1.45. The stock has a fifty day moving average of C$119.16 and a 200-day moving average of C$108.08. Canadian Imperial Bank of Commerce has a one year low of C$76.17 and a one year high of C$128.81.

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

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, December 29th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 annualized dividend and a yield of 3.4%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) 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.