Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has received a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$119.33.
A number of equities research analysts have commented on CM shares. TD Securities cut First Quantum Minerals from an “action list buy” rating to a “buy” rating and decreased their price target for the company from C$21.00 to C$18.50 in a research note on Thursday, May 23rd. CSFB set a C$81.00 price target on Toronto-Dominion Bank and gave the company an “outperform” rating in a research note on Thursday, May 16th. Canaccord Genuity reiterated a “hold” rating and issued a GBX 365 ($4.77) price target on shares of Crest Nicholson in a research note on Wednesday, May 15th. BMO Capital Markets reiterated a “hold” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. Finally, Desjardins cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and decreased their price target for the company from C$125.00 to C$118.00 in a research note on Thursday, May 23rd.
Shares of TSE CM traded down C$0.37 during mid-day trading on Friday, reaching C$103.14. 1,584,700 shares of the company were exchanged, compared to its average volume of 1,611,357. The firm has a market capitalization of $45.87 billion and a PE ratio of 9.08. Canadian Imperial Bank of Commerce has a 1 year low of C$99.51 and a 1 year high of C$125.21. The business has a 50-day simple moving average of C$103.76.
Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported C$2.97 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.99 by C($0.02). The company had revenue of C$4.54 billion during the quarter, compared to analysts’ expectations of C$4.54 billion. On average, analysts predict that Canadian Imperial Bank of Commerce will post 12.6099998 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date is Thursday, June 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 49.30%.
In other Canadian Imperial Bank of Commerce news, Director Nicholas D’orr Le Pan sold 500 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of C$103.47, for a total value of C$51,735.00. Following the completion of the sale, the director now directly owns 3,019 shares in the company, valued at C$312,375.93.
About Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.
See Also: How does a reverse stock split work?
Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.