Canadian Imperial Bank of Commerce (TSE:CM) Receives C$153.59 Consensus Target Price from Brokerages

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$153.59.

CM has been the subject of a number of recent analyst reports. Scotiabank lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a report on Tuesday, June 16th. National Bank Financial boosted their price objective on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a research report on Friday, May 15th. Desjardins upped their target price on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Canaccord Genuity Group increased their target price on Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the company a “hold” rating in a research report on Tuesday, July 7th. Finally, TD dropped their price target on shares of Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating on the stock in a research note on Friday, May 29th.

Insider Activity

In other news, insider Christopher John Anderson sold 8,490 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the completion of the sale, the insider owned 6,252 shares of the company’s stock, valued at C$972,186. The trade was a 57.59% decrease in their ownership of the stock. Also, insider Amy Florence South sold 1,086 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of C$162.15, for a total transaction of C$176,094.90. Insiders have sold a total of 17,776 shares of company stock worth $2,817,744 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

Canadian Imperial Bank of Commerce Trading Up 1.2%

Shares of TSE:CM opened at C$165.62 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of C$97.81 and a 12-month high of C$171.64. The company has a market capitalization of C$151.18 billion, a PE ratio of 16.43, a PEG ratio of 3.03 and a beta of 1.39. The business has a 50 day moving average of C$160.79 and a two-hundred day moving average of C$145.81.

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

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 28th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 40.48%.

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.