Canadian Imperial Bank of Commerce (TSE:CM) Receives Consensus Rating of “Hold” from Brokerages

Posted by Defense World Staff on May 6th, 2023

Shares of Canadian Imperial Bank of Commerce (TSE:CM – Get Rating) (NYSE:CM) have received a consensus rating of “Hold” from the fourteen ratings firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$67.68.

A number of research firms have weighed in on CM. Royal Bank of Canada raised their price target on Canadian Imperial Bank of Commerce from C$70.00 to C$89.00 in a research report on Monday, March 27th. CIBC lifted their target price on shares of Canadian Imperial Bank of Commerce from C$66.00 to C$66.50 in a report on Monday, February 27th. Scotiabank boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$65.00 to C$66.00 in a report on Monday, February 27th. CSFB boosted their target price on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$65.00 in a research note on Monday, February 27th. Finally, BMO Capital Markets decreased their target price on shares of Canadian Imperial Bank of Commerce from C$70.00 to C$69.00 in a research note on Monday, February 27th.

Canadian Imperial Bank of Commerce Stock Performance

CM stock opened at C$55.56 on Friday. The stock’s 50 day simple moving average is C$57.84 and its 200 day simple moving average is C$59.15. Canadian Imperial Bank of Commerce has a fifty-two week low of C$53.58 and a fifty-two week high of C$71.10. The company has a market cap of C$50.65 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 27.22 and a beta of 1.05.

Canadian Imperial Bank of Commerce (TSE:CM – Get Rating) (NYSE:CM) last released its earnings results on Friday, February 24th. The company reported C$1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.66 by C$0.28. The company had revenue of C$5.93 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 9.89% and a net margin of 22.77%. Equities analysts predict that Canadian Imperial Bank of Commerce will post 6.9607843 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Tuesday, March 28th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 6.12%. The ex-dividend date of this dividend was Monday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 67.06%.

Insider Activity

In other Canadian Imperial Bank of Commerce news, Director Victor George Dodig acquired 34,850 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were bought at an average cost of C$57.65 per share, with a total value of C$2,009,102.50. Insiders own 0.06% of the company’s stock.

About Canadian Imperial Bank of Commerce

(Get Rating)

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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