Canadian Imperial Bank of Commerce (TSE:CM) Downgraded to Hold Rating by Scotiabank

Scotiabank lowered shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

CM has been the subject of a number of other research reports. Royal Bank Of Canada cut their price target on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. TD cut their price target on Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating for the company in a research note on Friday. Desjardins increased their price target on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. National Bank Financial increased their price target on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a research note on Friday, May 15th. Finally, Canaccord Genuity Group increased their price target on Canadian Imperial Bank of Commerce from C$153.00 to C$158.00 and gave the stock a “hold” rating in a research note on Friday. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$152.86.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at C$146.70 on Monday. Canadian Imperial Bank of Commerce has a one year low of C$91.94 and a one year high of C$162.12. The stock’s fifty day moving average is C$146.08 and its 200 day moving average is C$134.45. The stock has a market cap of C$135.02 billion, a P/E ratio of 14.55, a P/E/G ratio of 3.03 and a beta of 1.30.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The company had revenue of C$8.01 billion for the quarter. Analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th were issued a $1.07 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.9%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 40.48%.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.