Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$180.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target increased by National Bank Financial from C$152.00 to C$180.00 in a research report released on Thursday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other research firms also recently commented on CM. Canaccord Genuity Group raised their price objective on Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. Jefferies Financial Group lifted their price objective on Canadian Imperial Bank of Commerce from C$143.00 to C$153.00 and gave the company a “hold” rating in a research note on Thursday. Raymond James Financial boosted their target price on Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the stock a “market perform” rating in a report on Wednesday. Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and raised their price target for the company from C$160.00 to C$173.00 in a report on Wednesday, August 5th. Finally, TD lifted their price target on shares of Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the company a “buy” rating in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$160.95.

Canadian Imperial Bank of Commerce Trading Up 0.8%

Shares of CM opened at C$171.76 on Thursday. The firm has a market capitalization of C$156.78 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 3.03 and a beta of 1.40. The stock’s fifty day simple moving average is C$163.75 and its 200 day simple moving average is C$148.76. Canadian Imperial Bank of Commerce has a twelve month low of C$100.43 and a twelve month high of C$171.76.

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 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. Sell-side analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 28th were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is currently 40.48%.

Insiders Place Their Bets

In other news, insider Christopher John Anderson sold 8,490 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$155.50, for a total value of C$1,320,195.00. Following the completion of the sale, the insider owned 6,252 shares in the company, valued at approximately C$972,186. This trade represents a 57.59% decrease in their ownership of the stock. Also, insider Amy Florence South sold 1,200 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of C$160.92, for a total value of C$193,104.00. Insiders have sold a total of 17,776 shares of company stock worth $2,817,744 over the last quarter. 0.02% of the stock is 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.