BMO Capital Markets Reaffirms “Market Perform” Rating for Canadian Imperial Bank of Commerce (CM)

BMO Capital Markets reaffirmed their market perform rating on shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) in a report published on Friday, August 25th. BMO Capital Markets currently has a C$118.00 price target on the stock.

Other equities research analysts have also recently issued reports about the stock. Scotiabank reduced their target price on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$118.00 and set a sector perform rating for the company in a report on Friday, May 26th. Barclays PLC upped their target price on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$110.00 in a report on Friday, August 11th. National Bank Financial reduced their target price on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$125.00 and set an outperform rating for the company in a report on Friday, May 26th. Royal Bank Of Canada reaffirmed a sector perform rating and issued a C$119.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Friday, May 26th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Canadian Imperial Bank of Commerce from C$115.00 to C$116.00 in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of C$118.45.

Shares of Canadian Imperial Bank of Commerce (TSE:CM) traded down 0.66% during midday trading on Friday, reaching $104.10. The company’s stock had a trading volume of 1,614,760 shares. The stock has a market capitalization of $45.38 billion and a price-to-earnings ratio of 9.46. The company has a 50 day moving average of $107.09 and a 200-day moving average of $110.07. Canadian Imperial Bank of Commerce has a 52 week low of $97.52 and a 52 week high of $120.83.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, August 24th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.14. Canadian Imperial Bank of Commerce had a net margin of 28.39% and a return on equity of 17.23%. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Equities research analysts predict that Canadian Imperial Bank of Commerce will post $10.91 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This report was published by Week Herald and is the sole property of of Week Herald. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this report can be accessed at https://weekherald.com/2017/09/05/bmo-capital-markets-reiterates-market-perform-rating-for-canadian-imperial-bank-of-commerce-cm.html.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Thursday, September 28th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.00%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.27.

In other news, insider Sandy Sharman sold 6,786 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of C$106.10, for a total transaction of C$719,994.60. Also, Director Michelle Lynn Collins purchased 1,186 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were purchased at an average price of C$84.30 per share, for a total transaction of C$99,979.80.

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 and internationally. It operates through three business units: Retail and Business Banking, Wealth Management, and Capital Markets.

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




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.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

three + 12 =