Analysts Set Canadian Imperial Bank of Commerce (TSE:CM) PT at C$126.09

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been given a consensus recommendation of “Hold” by the ten brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is C$126.09.

CM has been the topic of several research analyst reports. Raymond James Financial boosted their price objective on Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the company a “market perform” rating in a research report on Friday, December 5th. National Bankshares boosted their price target on Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the stock a “sector perform” rating in a report on Friday, December 5th. Barclays upped their price target on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research note on Monday, December 8th. Jefferies Financial Group boosted their target price on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the stock a “hold” rating in a report on Tuesday, November 25th. Finally, Desjardins raised their target price on shares of Canadian Imperial Bank of Commerce from C$132.00 to C$135.00 and gave the company a “buy” rating in a research note on Thursday, December 18th.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, insider Frank Guse sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the completion of the transaction, the insider owned 1,359 shares in the company, valued at C$172,810.44. This trade represents a 78.63% decrease in their position. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 0.2%

Canadian Imperial Bank of Commerce stock opened at C$129.50 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of C$76.17 and a 12-month high of C$130.86. The firm has a market capitalization of C$120.00 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 3.03 and a beta of 1.26. The firm has a 50 day moving average of C$126.43 and a 200 day moving average of C$115.71.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share for the quarter. The business had revenue of C$7.58 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. On average, analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 28th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Monday, December 29th. Canadian Imperial Bank of Commerce’s payout ratio is presently 45.27%.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.