The Canadian Imperial Bank of Commerce (CM) Price Target Raised to C$112.00, Report finds

A number of other research firms also recently commented on CM. National Bank Financial dropped their price objective on Canadian Imperial Bank of Commerce from C$103.00 to C$98.00 in a report on Friday, December 2nd. Keefe, Bruyette & Woods dropped their price objective on Canadian Imperial Bank of Commerce from C$104.00 to C$97.00 in a report on Monday, December 5th. RBC Capital Markets upped their price objective on Canadian Imperial Bank of Commerce from C$110.00 to C$112.00 in a report on Friday, December 2nd. Canaccord Genuity upped their price objective on Canadian Imperial Bank of Commerce from C$111.00 to C$115.00 in a report on Friday, January 13th. Finally, Scotiabank restated a “sector perform” rating and set a C$105.00 price objective on shares of Canadian Imperial Bank of Commerce in a report on Friday, October 21st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of C$111.54.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target hoisted by equities researchers at Barclays PLC from C$107.00 to C$112.00 in a report released on Monday. Barclays PLC’s price target suggests a potential downside of 2.69% from the company’s current price.

Shares of Canadian Imperial Bank of Commerce (TSE:CM) traded up 0.42% on Monday, reaching $115.58. The company had a trading volume of 351,945 shares. The company has a 50 day moving average of $111.80 and a 200-day moving average of $105.00. Canadian Imperial Bank of Commerce has a 52 week low of $84.30 and a 52 week high of $115.94. The company has a market capitalization of $45.92 billion and a P/E ratio of 10.80.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 27th. Shareholders of record on Wednesday, December 28th were given a $1.24 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.21. This represents a $4.96 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Friday, December 23rd.

Canadian Imperial Bank of Commerce Company Profile

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.

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