Brokerages Set Canadian Imperial Bank of Commerce (CM) Price Target at $126.22

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have earned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$126.22.

Several analysts recently commented on CM shares. TD Securities raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a C$120.00 target price for the company in a report on Wednesday, September 6th. Citigroup downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and lifted their target price for the stock from C$113.00 to C$120.00 in a report on Wednesday, October 25th. Canaccord Genuity set a C$121.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, November 1st. Barclays lifted their target price on shares of Canadian Imperial Bank of Commerce from C$110.00 to C$119.00 in a report on Friday, December 1st. Finally, CSFB lifted their target price on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$125.00 and gave the stock an “outperform” rating in a report on Friday, December 1st.

Shares of Canadian Imperial Bank of Commerce (TSE:CM) traded up C$0.74 during mid-day trading on Monday, hitting C$123.79. 3,401,500 shares of the company traded hands, compared to its average volume of 2,027,347. The company has a market cap of $54,610.00, a P/E ratio of 10.98 and a beta of 0.77. Canadian Imperial Bank of Commerce has a 1-year low of C$103.84 and a 1-year high of C$124.37.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Thursday, December 28th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Wednesday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.08%.

In other Canadian Imperial Bank of Commerce news, Director Laura Lee Dottori-Attanasio sold 11,928 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of C$119.55, for a total value of C$1,425,992.40.

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About Canadian Imperial Bank of Commerce

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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