TD Securities Raises Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$83.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price upped by TD Securities from C$76.00 to C$83.00 in a research report report published on Thursday, BayStreet.CA reports.

Several other analysts also recently commented on the stock. Jefferies Financial Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$79.00 and gave the company a buy rating in a research report on Thursday, June 6th. Desjardins upgraded shares of Canadian Imperial Bank of Commerce from a hold rating to a moderate buy rating and increased their target price for the stock from C$71.00 to C$77.00 in a research note on Friday, August 2nd. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from C$74.00 to C$77.00 in a research report on Friday, May 31st. Scotiabank increased their price objective on Canadian Imperial Bank of Commerce from C$73.00 to C$77.00 and gave the stock an outperform rating in a research report on Friday, May 31st. Finally, Barclays boosted their target price 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of Hold and an average price target of C$71.00.

Canadian Imperial Bank of Commerce Trading Up 0.6 %

Shares of TSE:CM opened at C$69.94 on Thursday. The firm has a 50 day simple moving average of C$67.54 and a 200-day simple moving average of C$66.06. Canadian Imperial Bank of Commerce has a twelve month low of C$47.44 and a twelve month high of C$71.77. The company has a market capitalization of C$65.55 billion, a PE ratio of 10.73, a P/E/G ratio of 3.01 and a beta of 1.11.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, May 30th. The company reported C$1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.66 by C$0.09. The company had revenue of C$6.16 billion during the quarter, compared to the consensus estimate of C$6.11 billion. Canadian Imperial Bank of Commerce had a net margin of 29.50% and a return on equity of 12.14%. As a group, equities research analysts predict that Canadian Imperial Bank of Commerce will post 6.7699387 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Friday, June 28th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.15%. Canadian Imperial Bank of Commerce’s payout ratio is 55.21%.

Insider Buying and Selling

In related news, Senior Officer John Hountalas sold 20,808 shares of Canadian Imperial Bank of Commerce stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$65.97, for a total transaction of C$1,372,672.55. In related news, Senior Officer John Hountalas sold 20,808 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of C$65.97, for a total value of C$1,372,672.55. Also, Senior Officer Christina Charlotte Kramer sold 23,782 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Friday, June 7th. The stock was sold at an average price of C$67.50, for a total transaction of C$1,605,285.00. Insiders own 0.03% of the company’s stock.

About Canadian Imperial Bank of Commerce

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.