CSFB Trims Canadian Imperial Bank of Commerce (TSE:CM) Target Price to C$72.00

Canadian Imperial Bank of Commerce (TSE:CMGet Rating) (NYSE:CM) had its target price lowered by CSFB from C$76.00 to C$72.00 in a report issued on Tuesday, BayStreet.CA reports.

Other equities analysts also recently issued reports about the stock. Barclays dropped their target price on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$69.00 in a report on Monday, August 15th. Cormark downgraded shares of Canadian Imperial Bank of Commerce from a buy rating to a market perform rating in a report on Tuesday. Fundamental Research reissued a buy rating and issued a C$81.00 target price on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, September 7th. Scotiabank decreased their target price on shares of Canadian Imperial Bank of Commerce from C$83.00 to C$75.00 in a research report on Tuesday. Finally, National Bankshares reduced their price target on shares of Canadian Imperial Bank of Commerce from C$84.00 to C$80.00 in a research report on Friday, November 18th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of C$89.23.

Canadian Imperial Bank of Commerce Price Performance

Shares of TSE:CM opened at C$64.66 on Tuesday. The stock has a market cap of C$58.50 billion and a P/E ratio of 9.32. The firm has a fifty day moving average price of C$61.34 and a 200 day moving average price of C$66.37. Canadian Imperial Bank of Commerce has a 1-year low of C$55.35 and a 1-year high of C$83.75.

Canadian Imperial Bank of Commerce (TSE:CMGet Rating) (NYSE:CM) last announced its quarterly earnings results on Thursday, August 25th. The company reported C$1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.80 by C$0.05. The company had revenue of C$5.57 billion during the quarter, compared to analysts’ expectations of C$5.47 billion. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 7.4299996 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Friday, October 28th were paid a dividend of $0.83 per share. The ex-dividend date was Tuesday, September 27th. This represents a $3.32 annualized dividend and a yield of 5.13%. Canadian Imperial Bank of Commerce’s payout ratio is 45.55%.

About Canadian Imperial Bank of Commerce

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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 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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