Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$157.50

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price raised by Raymond James Financial from C$148.50 to C$157.50 in a research report released on Wednesday morning,BayStreet.CA reports. They currently have a market perform rating on the stock.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. National Bank Financial upped their price objective on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$150.00 and gave the company a “sector perform” rating in a research note on Friday, February 27th. TD upped their price objective on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$166.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Scotiabank upped their price objective on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$159.00 and gave the company a “sector outperform” rating in a research note on Monday, May 4th. Finally, BMO Capital Markets upped their price objective on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$150.68.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at C$153.34 on Wednesday. The firm has a market capitalization of C$141.13 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 3.03 and a beta of 1.30. Canadian Imperial Bank of Commerce has a 1-year low of C$91.60 and a 1-year high of C$154.25. The company’s fifty day moving average price is C$141.25 and its 200-day moving average price is C$131.41.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, February 26th. The company reported C$2.76 EPS for the quarter. The company had revenue of C$8.40 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. As a group, research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th were given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 41.50%.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.