Royal Bank of Canada Analysts Give Canadian Imperial Bank of Commerce (TSE:CM) a C$108.00 Price Target

Royal Bank of Canada set a C$108.00 target price on Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) in a report published on Monday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on CM. National Bankshares increased their target price on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. TD Securities dropped their target price on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Canaccord Genuity Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. Scotiabank dropped their target price on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Finally, UBS Group dropped their target price on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$93.50.

Canadian Imperial Bank of Commerce Trading Up 0.2 %

TSE CM opened at C$81.35 on Monday. The company’s 50-day moving average price is C$87.22 and its 200-day moving average price is C$86.86. The stock has a market cap of C$76.11 billion, a PE ratio of 10.74, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12 month low of C$64.02 and a 12 month high of C$95.50.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 47.55%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.