Canadian Imperial Bank of Commerce (CM) Price Target Raised to C$121.00 at Canaccord Genuity

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Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective upped by Canaccord Genuity from C$115.00 to C$121.00 in a report issued on Wednesday morning, BayStreet.CA reports.

Several other brokerages also recently weighed in on CM. TD Securities cut their target price on shares of Canadian Imperial Bank of Commerce from C$140.00 to C$135.00 and set a buy rating for the company in a research note on Friday, March 1st. National Bank Financial cut their target price on shares of Canadian Imperial Bank of Commerce from C$122.00 to C$120.00 and set a sector perform rating for the company in a research note on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of C$127.00.

TSE:CM opened at C$110.64 on Wednesday. The firm has a market cap of $49.11 billion and a PE ratio of 9.79. Canadian Imperial Bank of Commerce has a 52-week low of C$99.51 and a 52-week high of C$125.21.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, February 28th. The company reported C$3.01 earnings per share (EPS) for the quarter, missing the consensus estimate of C$3.12 by C($0.11). The firm had revenue of C$4.57 billion during the quarter, compared to analyst estimates of C$4.62 billion. Research analysts forecast that Canadian Imperial Bank of Commerce will post 13.1011900247606 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Thursday, March 28th were paid a $1.40 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.36. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a yield of 5.06%. Canadian Imperial Bank of Commerce’s payout ratio is presently 47.61%.

Canadian Imperial Bank of Commerce Company Profile

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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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