Canadian Imperial Bank of Commerce (TSE:CM) Price Target Lowered to C$118.00 at Scotiabank

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective trimmed by Scotiabank from C$121.00 to C$118.00 in a report released on Friday, BayStreet.CA reports.

Several other equities analysts have also recently commented on CM. TD Securities dropped their target price on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$115.00 and set a hold rating for the company in a research report on Friday. CSFB cut their price target on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$105.00 in a report on Friday, September 6th. Canaccord Genuity set a C$108.00 price target on shares of Canadian Imperial Bank of Commerce in a research report on Friday. Royal Bank of Canada decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$121.00 and set a sector perform rating on the stock in a research note on Friday. Finally, Eight Capital lowered their price objective on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$107.00 in a research report on Wednesday, August 14th. Seven research analysts have rated the stock with a hold rating, The stock has a consensus rating of Hold and a consensus target price of C$113.25.

Canadian Imperial Bank of Commerce stock traded up C$0.99 during trading hours on Friday, reaching C$109.87. 1,676,753 shares of the stock were exchanged, compared to its average volume of 1,585,402. The company has a market cap of $48.94 billion and a P/E ratio of 9.63. Canadian Imperial Bank of Commerce has a twelve month low of C$97.55 and a twelve month high of C$115.96. The stock has a 50 day moving average of C$113.68 and a two-hundred day moving average of C$106.77.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 5.24%. The ex-dividend date is Tuesday, December 24th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 48.38%.

In other Canadian Imperial Bank of Commerce news, Director Katharine Berghuis Stevenson bought 4,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were purchased at an average price of C$109.52 per share, for a total transaction of C$438,080.00. Following the completion of the transaction, the director now directly owns 20,352 shares in the company, valued at approximately C$2,228,951.04.

Canadian Imperial Bank of Commerce Company Profile

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.

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

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