Canadian Imperial Bank of Commerce (TSE:CM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$153.05.

CM has been the subject of several recent research reports. Barclays lifted their price objective on Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a report on Monday, March 2nd. Canaccord Genuity Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$160.00 and gave the company a “hold” rating in a report on Friday, June 5th. National Bank Financial increased their target price on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a research report on Friday, May 15th. Jefferies Financial Group lifted their target price on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research note on Wednesday, May 20th. Finally, TD Securities boosted their price target on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the company a “buy” rating in a research report on Friday, February 27th.

Canadian Imperial Bank of Commerce Trading Down 0.5%

Shares of TSE CM opened at C$153.74 on Thursday. The stock has a fifty day simple moving average of C$149.02 and a two-hundred day simple moving average of C$136.01. Canadian Imperial Bank of Commerce has a 1-year low of C$91.94 and a 1-year high of C$162.12. The firm has a market cap of C$140.33 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 3.03 and a beta of 1.42.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The firm had revenue of C$8.01 billion for the quarter. Analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a yield of 2.8%. Canadian Imperial Bank of Commerce’s payout ratio is presently 40.48%.

Insider Activity

In other Canadian Imperial Bank of Commerce news, insider Christopher John Anderson sold 1,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of C$152.15, for a total transaction of C$152,150.00. Following the sale, the insider owned 6,252 shares in the company, valued at C$951,241.80. This represents a 13.79% decrease in their ownership of the stock. 0.02% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Company Profile

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.