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.
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