Canadian Imperial Bank of Commerce (CM) Given New C$120.00 Price Target at BMO Capital Markets

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Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective cut by BMO Capital Markets from C$128.00 to C$120.00 in a report released on Thursday morning, BayStreet.CA reports. They currently have a market perform rating on the stock.

A number of other equities research analysts also recently commented on CM. TD Securities decreased their target price on Canadian Imperial Bank of Commerce from C$140.00 to C$135.00 and set a buy rating on the stock in a research report on Friday, March 1st. National Bank Financial decreased their target price on Canadian Imperial Bank of Commerce from C$122.00 to C$120.00 and set a sector perform rating on the stock in a research report on Friday, March 1st. Canaccord Genuity boosted their target price on Canadian Imperial Bank of Commerce from C$115.00 to C$121.00 in a research report on Wednesday, May 15th. Finally, CSFB set a C$116.00 target price on Canadian Imperial Bank of Commerce and gave the stock a neutral rating in a research report on Thursday, May 16th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Canadian Imperial Bank of Commerce currently has an average rating of Hold and an average target price of C$122.00.

Shares of Canadian Imperial Bank of Commerce stock opened at C$104.56 on Thursday. Canadian Imperial Bank of Commerce has a 52 week low of C$99.51 and a 52 week high of C$125.21. The stock has a market capitalization of $46.49 billion and a PE ratio of 9.25.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, February 28th. The company reported C$3.01 EPS for the quarter, missing analysts’ consensus estimates of C$3.12 by C($0.11). The company had revenue of C$4.57 billion during the quarter, compared to the consensus estimate of C$4.62 billion. As a group, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 13.1011900247606 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.40 per share. The ex-dividend date is Thursday, June 27th. This represents a $5.60 annualized dividend and a yield of 5.36%. Canadian Imperial Bank of Commerce’s payout ratio is currently 48.23%.

About Canadian Imperial Bank of Commerce

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

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