Canadian Imperial Bank of Commerce (TSE:CM) Given a C$72.00 Price Target by Cormark Analysts

Cormark set a C$72.00 price target on Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) in a report published on Tuesday, BayStreet.CA reports. The firm currently has a market perform rating on the stock. Cormark also issued estimates for Canadian Imperial Bank of Commerce’s Q3 2024 earnings at $1.75 EPS, FY2024 earnings at $7.03 EPS and FY2025 earnings at $7.33 EPS.

A number of other analysts have also weighed in on the company. TD Securities increased their target price on Canadian Imperial Bank of Commerce from C$76.00 to C$83.00 in a research note on Thursday, August 8th. Desjardins upgraded Canadian Imperial Bank of Commerce from a hold rating to a moderate buy rating and raised their price target for the company from C$71.00 to C$77.00 in a research note on Friday, August 2nd. Royal Bank of Canada raised their price target on Canadian Imperial Bank of Commerce from C$68.00 to C$69.00 and gave the company a sector perform rating in a research note on Friday, May 31st. Scotiabank raised their price target on Canadian Imperial Bank of Commerce from C$73.00 to C$77.00 and gave the company an outperform rating in a research note on Friday, May 31st. Finally, BMO Capital Markets raised their price objective on Canadian Imperial Bank of Commerce from C$74.00 to C$77.00 in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of C$71.79.

Canadian Imperial Bank of Commerce Stock Up 0.6 %

Shares of CM opened at C$73.54 on Tuesday. The company has a market cap of C$69.35 billion, a PE ratio of 11.23, a P/E/G ratio of 3.01 and a beta of 1.12. The business has a fifty day moving average of C$68.51 and a 200 day moving average of C$66.72. Canadian Imperial Bank of Commerce has a 52-week low of C$47.44 and a 52-week high of C$73.73.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, May 30th. The company reported C$1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.66 by C$0.09. The company had revenue of C$6.16 billion during the quarter, compared to the consensus estimate of C$6.11 billion. Canadian Imperial Bank of Commerce had a return on equity of 11.92% and a net margin of 29.25%. As a group, research analysts anticipate that Canadian Imperial Bank of Commerce will post 7.301217 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Friday, June 28th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 4.90%. The ex-dividend date was Friday, June 28th. Canadian Imperial Bank of Commerce’s payout ratio is currently 54.96%.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, Senior Officer John Hountalas sold 20,808 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of C$65.97, for a total value of C$1,372,672.55. In other news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of C$67.50, for a total transaction of C$1,605,285.00. Also, Senior Officer John Hountalas sold 20,808 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$65.97, for a total transaction of C$1,372,672.55. Corporate insiders own 0.02% of the company’s stock.

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.