Canadian Imperial Bank of Commerce (CM) Receives Average Recommendation of “Buy” from Brokerages

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been assigned a consensus rating of “Hold” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is C$132.00.

CM has been the subject of several recent analyst reports. Desjardins boosted their price target on Canadian Imperial Bank of Commerce from C$133.00 to C$134.00 in a research note on Friday, February 23rd. National Bank Financial boosted their price target on Canadian Imperial Bank of Commerce from C$133.00 to C$136.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Scotiabank boosted their price target on Canadian Imperial Bank of Commerce from C$134.00 to C$135.00 and gave the stock a “sector perform” rating in a research note on Friday, February 23rd. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from C$126.00 to C$130.00 and gave the stock a “market perform” rating in a research note on Friday, February 23rd. Finally, Eight Capital boosted their price target on Canadian Imperial Bank of Commerce from C$134.00 to C$139.00 in a research note on Friday, February 23rd.

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Canadian Imperial Bank of Commerce stock traded down C$0.87 during mid-day trading on Wednesday, hitting C$111.08. The company had a trading volume of 921,198 shares, compared to its average volume of 1,403,191. Canadian Imperial Bank of Commerce has a 12 month low of C$103.84 and a 12 month high of C$124.37.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, February 22nd. The company reported C$3.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$2.83 by C$0.35. Canadian Imperial Bank of Commerce had a return on equity of 18.90% and a net margin of 31.76%. The firm had revenue of C$4.46 billion during the quarter, compared to analysts’ expectations of C$4.25 billion.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Wednesday, March 28th will be given a dividend of $1.33 per share. This represents a $5.32 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Tuesday, March 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.30.

In other news, Director Katharine Berghuis Stevenson acquired 1,500 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price of C$119.17 per share, for a total transaction of C$178,755.00.

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About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, 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.

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

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