Citigroup initiated coverage on shares of CIBC (NYSE: CM) in a research report sent to investors on Wednesday morning. The firm issued a neutral rating on the stock.
Shares of CIBC opened at 80.03 on Wednesday. CIBC has a one year low of $66.32 and a one year high of $84.38. The stock’s 50-day moving average is currently $82.99. The company has a market cap of $32.306 billion and a P/E ratio of 10.08.
The company also recently declared a quarterly dividend, which is scheduled for Monday, April 29th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.66%.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays Capital downgraded shares of CIBC from an equal weight rating to an underweight rating in a research note to investors on Wednesday, February 20th. They now have a $81.00 price target on the stock. Separately, analysts at Canaccord Genuity reiterated a hold rating on shares of CIBC in a research note to investors on Monday, January 7th. They now have a $92.00 price target on the stock, up previously from $86.00. Finally, analysts at UBS AG raised their price target on shares of CIBC from $82.00 to $81.00 in a research note to investors on Friday, December 7th. They now have a neutral rating on the stock.
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