Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$154.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective raised by Jefferies Financial Group from C$153.00 to C$154.00 in a research note issued to investors on Thursday,BayStreet reports.

Other analysts also recently issued research reports about the stock. Raymond James Financial boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the company a “market perform” rating in a report on Wednesday, August 12th. National Bank Financial set a C$180.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock a “sector perform” rating in a report on Monday, August 24th. Keefe, Bruyette & Woods set a C$186.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company a “hold” rating in a research report on Friday, August 21st. Canaccord Genuity Group boosted their price target on Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the company a “hold” rating in a research note on Friday, August 28th. Finally, Scotiabank increased their price target on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 16th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$167.79.

Canadian Imperial Bank of Commerce Stock Down 0.2%

Shares of TSE CM opened at C$162.75 on Thursday. The business’s 50 day moving average price is C$164.66 and its two-hundred day moving average price is C$152.16. The company has a market cap of C$148.56 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26. Canadian Imperial Bank of Commerce has a twelve month low of C$107.38 and a twelve month high of C$172.87.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Thursday, August 27th. The company reported C$2.73 earnings per share for the quarter. The company had revenue of C$8.37 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 16.13% and a return on equity of 15.44%. As a group, research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Tuesday, July 28th were given a dividend of $1.07 per share. The ex-dividend date was Monday, June 29th. This represents a $4.28 annualized dividend and a yield of 2.6%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 40.12%.

Insiders Place Their Bets

In other Canadian Imperial Bank of Commerce news, insider Amy Florence South sold 1,086 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of C$162.15, for a total value of C$176,094.90. Also, insider Stephen Alan Scholtz sold 6,000 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of C$162.70, for a total value of C$976,200.00. Insiders have sold 16,776 shares of company stock valued at $2,665,594 in the last ninety days. 0.02% of the stock is currently owned by 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.