Canadian Imperial Bank of Commerce (TSE:CM) Price Target Cut to C$72.00 by Analysts at CSFB

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

A number of other equities analysts have also recently issued reports on the company. BMO Capital Markets reduced their target price on Canadian Imperial Bank of Commerce from C$83.00 to C$76.00 in a report on Friday, September 2nd. Fundamental Research reissued a buy rating and set a C$81.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, September 7th. National Bankshares decreased their target price on Canadian Imperial Bank of Commerce from C$84.00 to C$80.00 in a report on Friday, November 18th. TD Securities lowered Canadian Imperial Bank of Commerce from a buy rating to a hold rating and decreased their price objective for the company from C$74.00 to C$65.00 in a report on Tuesday, November 15th. Finally, Credit Suisse Group cut their target price on Canadian Imperial Bank of Commerce to C$72.00 in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of C$89.23.

Canadian Imperial Bank of Commerce Stock Down 0.1 %

Canadian Imperial Bank of Commerce stock opened at C$64.66 on Tuesday. Canadian Imperial Bank of Commerce has a 12-month low of C$55.35 and a 12-month high of C$83.75. The stock has a 50-day simple moving average of C$61.34 and a 200 day simple moving average of C$66.37. The stock has a market capitalization of C$58.50 billion and a price-to-earnings ratio of 9.32.

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

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 28th were given a dividend of $0.83 per share. The ex-dividend date of this dividend 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 currently 45.55%.

Canadian Imperial Bank of Commerce Company Profile

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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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