Canadian Imperial Bank of Commerce (CM) Receives Consensus Recommendation of “Buy” from Analysts

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Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received an average rating of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$134.18.

CM has been the topic of a number of recent analyst reports. National Bank Financial downgraded Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$136.00 to C$124.00 in a research report on Thursday, May 24th. Citigroup raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and boosted their price target for the stock from C$125.00 to C$130.00 in a research report on Wednesday, June 6th. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 and gave the stock a “market perform” rating in a research report on Friday, August 24th. Eight Capital set a C$140.00 price target on Canadian Imperial Bank of Commerce in a research report on Thursday, May 24th. Finally, Scotiabank lowered their price target on Canadian Imperial Bank of Commerce from C$131.00 to C$127.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 24th.

In other news, Director Katharine Berghuis Stevenson acquired 1,200 shares of the stock in a transaction on Thursday, August 30th. The stock was acquired at an average cost of C$122.80 per share, for a total transaction of C$147,360.00.

TSE CM traded down C$0.23 during trading on Friday, reaching C$123.07. 1,242,600 shares of the company’s stock were exchanged, compared to its average volume of 1,203,599. Canadian Imperial Bank of Commerce has a fifty-two week low of C$104.79 and a fifty-two week high of C$124.37.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 29th. Investors of record on Friday, September 28th will be paid a $1.36 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.33. This represents a $5.44 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Thursday, September 27th.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, 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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