Jefferies Financial Group Raises Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$79.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price hoisted by Jefferies Financial Group from C$78.00 to C$79.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on the company. BMO Capital Markets raised their price objective on Canadian Imperial Bank of Commerce from C$74.00 to C$77.00 in a report on Friday, May 31st. Barclays raised their price objective on Canadian Imperial Bank of Commerce from C$70.00 to C$71.00 and gave the company an underweight rating in a report on Friday, May 31st. Canaccord Genuity Group raised their price objective on Canadian Imperial Bank of Commerce from C$64.00 to C$67.00 and gave the company a hold rating in a report on Friday, March 1st. National Bankshares raised their price objective on Canadian Imperial Bank of Commerce from C$76.00 to C$78.00 and gave the company an outperform rating in a report on Friday, May 31st. Finally, Keefe, Bruyette & Woods upgraded Canadian Imperial Bank of Commerce from a hold rating to a moderate buy rating in a report on Monday, June 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of C$69.21.

Canadian Imperial Bank of Commerce Trading Up 0.1 %

CM stock opened at C$67.39 on Thursday. The stock has a 50-day moving average price of C$66.47 and a two-hundred day moving average price of C$63.76. The stock has a market cap of C$63.16 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 3.01 and a beta of 1.11. Canadian Imperial Bank of Commerce has a 1 year low of C$47.44 and a 1 year high of C$69.54.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, June 28th. This represents a $3.60 annualized dividend and a yield of 5.34%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) 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.