Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$77.00 at BMO Capital Markets

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective upped by BMO Capital Markets from C$74.00 to C$77.00 in a report released on Friday morning, BayStreet.CA reports.

A number of other equities analysts have also commented on CM. Jefferies Financial Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$76.00 to C$77.00 in a report on Monday, May 13th. Scotiabank raised their target price on Canadian Imperial Bank of Commerce from C$69.00 to C$73.00 and gave the company an outperform rating in a research note on Friday, May 17th. Cormark lifted their price target on Canadian Imperial Bank of Commerce from C$64.00 to C$68.00 in a report on Friday, March 1st. Royal Bank of Canada boosted their price target on Canadian Imperial Bank of Commerce from C$63.00 to C$68.00 and gave the stock a sector perform rating in a research report on Friday, March 1st. Finally, TD Securities raised Canadian Imperial Bank of Commerce from a hold rating to a buy rating and boosted their target price for the stock from C$65.00 to C$70.00 in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of C$69.09.

Canadian Imperial Bank of Commerce Stock Performance

CM stock opened at C$68.11 on Friday. Canadian Imperial Bank of Commerce has a one year low of C$47.44 and a one year high of C$69.54. The company has a 50 day moving average price of C$66.55 and a two-hundred day moving average price of C$63.45. The stock has a market capitalization of C$63.84 billion, a P/E ratio of 10.45, a PEG ratio of 3.01 and a beta of 1.11.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date is Friday, June 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 55.21%.

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.