Canadian Imperial Bank of Commerce (TSE:CM) Given New C$147.00 Price Target at Royal Bank Of Canada

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price reduced by Royal Bank Of Canada from C$158.00 to C$147.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Barclays boosted their price target on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research report on Monday, March 2nd. BMO Capital Markets lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. TD Securities boosted their target price on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Desjardins upped their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Finally, Canaccord Genuity Group increased their price target on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the company a “hold” rating in a report on Friday, February 27th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and an average price target of C$145.35.

Canadian Imperial Bank of Commerce Trading Up 1.0%

Shares of Canadian Imperial Bank of Commerce stock opened at C$134.53 on Wednesday. The stock has a 50 day moving average of C$131.96 and a 200 day moving average of C$123.41. Canadian Imperial Bank of Commerce has a 12 month low of C$76.17 and a 12 month high of C$143.80. The firm has a market cap of C$123.81 billion, a PE ratio of 14.03, a PEG ratio of 3.03 and a beta of 1.32.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, February 26th. The company reported C$2.76 earnings per share for the quarter. The business had revenue of C$8.40 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 14.76% and a net margin of 17.63%. As a group, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 41.50%.

About Canadian Imperial Bank of Commerce

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.