Eight Capital Trims Canadian Imperial Bank of Commerce (CM) Target Price to C$131.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target reduced by Eight Capital from C$132.00 to C$131.00 in a research report released on Friday.

Several other analysts have also weighed in on CM. National Bank Financial lowered their price objective on shares of Canadian Imperial Bank of Commerce from C$127.00 to C$122.00 and set a sector perform rating for the company in a research note on Friday. Barclays decreased their price target on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$130.00 in a research note on Friday, November 16th. TD Securities boosted their price target on shares of Canadian Imperial Bank of Commerce from C$140.00 to C$145.00 and gave the company a buy rating in a research note on Thursday, August 23rd. Canaccord Genuity decreased their price target on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$124.00 in a research note on Thursday, November 22nd. Finally, BMO Capital Markets boosted their price target on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 and gave the company a market perform rating in a research note on Friday, August 24th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of C$130.82.

TSE:CM opened at C$111.50 on Friday. Canadian Imperial Bank of Commerce has a twelve month low of C$110.00 and a twelve month high of C$125.21.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 28th. Shareholders of record on Friday, December 28th will be paid a dividend of $1.36 per share. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $5.44 dividend on an annualized basis and a yield of 4.88%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.97%.

In other Canadian Imperial Bank of Commerce news, Director Victor George Dodig sold 16,000 shares of the business’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of C$122.91, for a total transaction of C$1,966,560.00. Also, insider John Hountalas sold 9,033 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of C$124.55, for a total transaction of C$1,125,060.15.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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