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Canadian Imperial Bank of Commerce (TSE: CM) receives consensus recommendation “Buy” from Brokerages

Canada’s Imperial Bank of Commerce (TSE: CM) (NYSE: CM) was assigned a consensus recommendation of “buy” by the eleven analysts who currently cover the stock, Marketbeat reports. One analyst has given the stock a hold rating and seven have given the company a buy rating. The average 1-year target price among analysts who have covered the stock for the past year is $ 126.55.

CM has been the subject of a number of research reports. Fundamental Research raised the target price for the Canadian Imperial Bank of Commerce from CAD 115.36 to CAD 135.48 and gave the stock a “Buy” rating in a research report on Tuesday, March 2nd. BMO Capital Markets raised the shares of the Canadian Imperial Bank of Commerce from a “Market Perform” rating to an “Outperform” rating in a research report on Friday, February 26, and raised the price target for the company of 124, C $ 00 raised to C $ 130.00. CSFB raised the shares of the Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research report on Wednesday March 3rd, with a price target of C $ 118.00 for the stock increased to C $ 123.00. National Bank Financial raised its target price on shares in the Canadian Imperial Bank of Commerce from C $ 126.00 to C $ 130.00 and rated the company as “Outperform” in a report on Friday, February 26th. Finally, in a research note on Friday, February 26, Scotiabank raised its target price for shares in the Canadian Imperial Bank of Commerce from C $ 139.00 to C $ 144.00.

TSE: CM’s shares traded around $ 0.72 during Friday’s trading hours to hit $ 124.85. 291,024 shares of the company’s shares were traded, compared to an average volume of 2,102,729. The Canadian Imperial Bank of Commerce has a 52-week low of $ 77.68 and a 52-week high of $ 127.13. The company’s fifty day simple moving average is $ 123.45 and the two hundred day simple moving average is $ 112.05. The company has a market capitalization of $ 55.91 billion and a value for money of 13.65.

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The Canadian Imperial Bank of Commerce (TSE: CM) (NYSE: CM) last released its results on Thursday, February 25th. The company reported earnings per share of $ 3.58 for the quarter, beating Zacks’ consensus estimate of $ 2.79 by $ 0.79. The company posted revenue of $ 4.96 billion for the quarter, compared to analyst expectations of $ 4.84 billion. Analysts assume that the Canadian Imperial Bank of Commerce will report an EPS of 12,7099,995 for the current fiscal year.

The company recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. A dividend of $ 1.46 will be paid to registered investors on Monday, March 29th. This equates to a dividend of $ 5.84 on an annual basis and a yield of 4.68%. The ex-dividend date of this dividend is Friday March 26th. The Canadian Imperial Bank of Commerce’s payout ratio is currently 63.86%.

In Other News, Director Katharine Berghuis Stevenson acquired 400 shares in Canada’s Imperial Bank of Commerce on Friday March 12th. The stock was acquired at an average cost of $ 124.20 per share for a total transaction of $ 49,680. Upon completion of the purchase, the director now holds 22,693 shares in the company valued at $ 2,818,470.60. In addition, director Harry Kenneth Culham sold 10,000 shares in the company in a transaction on Thursday, March 4th. The stock was sold at an average price of $ 122.00 for a total transaction of $ 1,220,000. Following the sale, the director now directly owns 2,330 shares in the company valued at $ 284,260. In the past 90 days, insiders have sold 61,895 shares in the company, valued at $ 7,433,702.

Via the Canadian Imperial Bank of Commerce

The Canadian Imperial Bank of Commerce, a diversified financial institution, offers a variety of financial products and services to retail, business, public, and institutional clients in Canada, the United States, and internationally. The company operates in four strategic businesses: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; US

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