Canadian Imperial Bank of Commerce’s (CM) Market Perform Rating Reiterated at BMO Capital Markets

BMO Capital Markets reissued their market perform rating on shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) in a research note issued to investors on Friday, August 25th. The brokerage currently has a C$118.00 price target on the stock.

Several other brokerages have also recently issued reports on CM. Barclays PLC boosted their price objective on Canadian Imperial Bank of Commerce from C$108.00 to C$110.00 in a report on Friday, August 11th. National Bank Financial decreased their price objective on 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. Scotiabank decreased their price objective on 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. Keefe, Bruyette & Woods boosted their price objective on Canadian Imperial Bank of Commerce from C$115.00 to C$116.00 in a report on Tuesday, August 22nd. Finally, Royal Bank Of Canada reissued a sector perform rating and issued a C$119.00 price objective on shares of Canadian Imperial Bank of Commerce in a report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of C$118.00.

Shares of Canadian Imperial Bank of Commerce (CM) traded up 0.63% during mid-day trading on Friday, reaching $106.71. The company’s stock had a trading volume of 1,069,028 shares. The firm’s 50-day moving average price is $106.71 and its 200 day moving average price is $109.74. Canadian Imperial Bank of Commerce has a 12-month low of $97.52 and a 12-month high of $120.83. The firm has a market cap of $46.52 billion and a P/E ratio of 9.70.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, August 24th. The company reported C$2.77 EPS for the quarter, topping the Zacks’ consensus estimate of C$2.63 by C$0.14. Canadian Imperial Bank of Commerce had a return on equity of 16.50% and a net margin of 26.73%. The company had revenue of C$4.10 billion during the quarter, compared to analysts’ expectations of C$4.01 billion. On average, analysts expect that Canadian Imperial Bank of Commerce will post $10.91 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Thursday, September 28th will be issued a $1.30 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a yield of 4.87%.

In related news, insider Sandy Sharman sold 6,786 shares of the company’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of C$106.10, for a total value of C$719,994.60. Also, Director Katharine Berghuis Stevenson purchased 400 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average cost of C$105.19 per share, with a total value of C$42,076.00.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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




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