Canadian Imperial Bank of Commerce (TSE:CM) Receives Consensus Recommendation of “Hold” from Brokerages

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has received a consensus rating of “Hold” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given 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$125.36.

A number of equities research analysts have commented on the company. Barclays upped their price target on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research report on Monday, December 8th. BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a report on Wednesday, December 17th. TD Securities increased their target price on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Desjardins raised their price target on shares of Canadian Imperial Bank of Commerce from C$132.00 to C$135.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Finally, 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 stock a “sector perform” rating in a research report on Friday, December 5th.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE CM opened at C$126.22 on Monday. The firm has a 50 day moving average price of C$122.30 and a two-hundred day moving average price of C$110.96. The stock has a market cap of C$116.96 billion, a P/E ratio of 14.73, a price-to-earnings-growth 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 quarterly earnings data on Thursday, December 4th. The company reported C$2.21 earnings per share for the quarter. The company had revenue of C$7.58 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. Analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Wednesday, January 28th will be issued a $1.07 dividend. The ex-dividend date 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 presently 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.