Brokerages Set Canadian Imperial Bank of Commerce (CM) Price Target at $127.80

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Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $127.80.

Several equities research analysts have commented on the stock. ValuEngine raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. TheStreet raised shares of Canadian Imperial Bank of Commerce from a “c” rating to a “b-” rating in a report on Thursday, August 23rd. Finally, Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Monday, August 13th.

Shares of CM opened at $86.52 on Friday. Canadian Imperial Bank of Commerce has a 1-year low of $84.88 and a 1-year high of $100.01. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $37.91 billion, a PE ratio of 9.05, a P/E/G ratio of 1.65 and a beta of 1.20.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, August 23rd. The bank reported $3.08 EPS for the quarter, beating the consensus estimate of $2.22 by $0.86. Canadian Imperial Bank of Commerce had a net margin of 21.27% and a return on equity of 17.77%. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the company earned $2.77 earnings per share. Sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 9.35 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 29th. Shareholders of record on Friday, September 28th were given a $1.0412 dividend. The ex-dividend date was Thursday, September 27th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 4.81%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. Canadian Imperial Bank of Commerce’s dividend payout ratio is 46.91%.

Several institutional investors have recently modified their holdings of the business. WESPAC Advisors SoCal LLC raised its position in shares of Canadian Imperial Bank of Commerce by 1.1% in the second quarter. WESPAC Advisors SoCal LLC now owns 48,330 shares of the bank’s stock worth $4,200,000 after acquiring an additional 545 shares during the period. First Allied Advisory Services Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 9.9% in the second quarter. First Allied Advisory Services Inc. now owns 6,320 shares of the bank’s stock worth $548,000 after acquiring an additional 571 shares during the period. Naples Global Advisors LLC raised its position in shares of Canadian Imperial Bank of Commerce by 4.5% in the second quarter. Naples Global Advisors LLC now owns 17,520 shares of the bank’s stock worth $1,523,000 after acquiring an additional 750 shares during the period. Creative Planning raised its position in shares of Canadian Imperial Bank of Commerce by 7.6% in the third quarter. Creative Planning now owns 10,796 shares of the bank’s stock worth $1,012,000 after acquiring an additional 761 shares during the period. Finally, Trust Co raised its position in shares of Canadian Imperial Bank of Commerce by 21.0% in the first quarter. Trust Co now owns 4,527 shares of the bank’s stock worth $400,000 after acquiring an additional 785 shares during the period. Institutional investors and hedge funds own 46.23% of the company’s stock.

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.

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

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