Canadian Imperial Bank of Commerce (TSE:CM – Free Report) (NYSE:CM) had its price objective raised by Desjardins from C$62.00 to C$64.00 in a research report released on Wednesday morning, BayStreet.CA reports. The brokerage currently has a hold rating on the stock. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s Q1 2024 earnings at $1.67 EPS.
Several other analysts have also commented on CM. Bank of America raised Canadian Imperial Bank of Commerce from an underperform rating to a neutral rating and raised their target price for the stock from C$63.00 to C$66.00 in a report on Monday, December 18th. National Bankshares raised shares of Canadian Imperial Bank of Commerce from a sector perform rating to an outperform rating and lifted their target price for the company from C$62.00 to C$71.00 in a report on Wednesday, December 20th. Keefe, Bruyette & Woods lowered their price target on shares of Canadian Imperial Bank of Commerce from C$58.00 to C$56.00 and set a market perform rating on the stock in a report on Thursday, November 23rd. Royal Bank of Canada cut their price objective on shares of Canadian Imperial Bank of Commerce from C$66.00 to C$63.00 and set a sector perform rating for the company in a report on Friday, December 1st. Finally, Scotiabank boosted their price objective on Canadian Imperial Bank of Commerce from C$57.00 to C$62.00 and gave the company a sector perform rating in a research report on Wednesday, December 20th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of C$62.86.
Canadian Imperial Bank of Commerce Trading Up 1.0 %
Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last issued its earnings results on Thursday, November 30th. The company reported C$1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.58 by C($0.01). The business had revenue of C$5.84 billion for the quarter, compared to analysts’ expectations of C$5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 9.72% and a net margin of 23.44%. Equities research analysts predict that Canadian Imperial Bank of Commerce will post 6.5474138 earnings per share for the current fiscal year.
Canadian Imperial Bank of Commerce Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 29th. Investors of record on Thursday, December 28th were issued a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, December 27th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.93%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.87. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 70.73%.
Insider Buying and Selling
In other news, Senior Officer Christina Charlotte Kramer sold 15,446 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of C$57.19, for a total value of C$883,356.74. 0.03% of the stock is owned by company insiders.
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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.
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