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

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

Several other brokerages have also weighed in on CM. TD Securities dropped 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 dropped 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. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Canadian Imperial Bank of Commerce currently has an average rating of Hold and an average price target of C$127.00.

Shares of Canadian Imperial Bank of Commerce stock opened at C$110.64 on Wednesday. The stock has a market capitalization of $48.85 billion and a P/E ratio of 9.79. Canadian Imperial Bank of Commerce has a 1 year low of C$99.51 and a 1 year high of C$125.21.

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

The company also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Thursday, March 28th were given a $1.40 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.36. This represents a $5.60 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend was Wednesday, March 27th. Canadian Imperial Bank of Commerce’s dividend 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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Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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