Canadian Imperial Bank of Commerce (CM) Receives Average Rating of “Hold” from Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have earned an average recommendation of “Buy” from the twelve research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is C$124.92.

Several research analysts have recently weighed in on CM shares. Keefe, Bruyette & Woods boosted their price target on Canadian Imperial Bank of Commerce from C$115.00 to C$116.00 in a research note on Tuesday, August 22nd. CSFB upped their price objective on Canadian Imperial Bank of Commerce from C$116.00 to C$125.00 and gave the company an “outperform” rating in a research report on Friday, December 1st. Scotiabank reduced their price objective on Canadian Imperial Bank of Commerce from C$120.00 to C$118.00 and set a “sector perform” rating for the company in a research report on Sunday, August 27th. Canaccord Genuity set a C$121.00 price objective on Canadian Imperial Bank of Commerce in a research report on Wednesday, November 1st. Finally, Citigroup cut Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and upped their price objective for the company from C$113.00 to C$120.00 in a research report on Wednesday, October 25th.

Canadian Imperial Bank of Commerce (CM) traded down C$0.42 during mid-day trading on Thursday, hitting C$119.00. The stock had a trading volume of 1,191,541 shares, compared to its average volume of 1,350,849. Canadian Imperial Bank of Commerce has a 52-week low of C$103.84 and a 52-week high of C$122.56.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Thursday, December 28th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend is Wednesday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 45.08%.

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Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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