Brokerages Set Canadian Imperial Bank of Commerce (TSE:CM) PT at C$167.79

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been assigned a consensus rating of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$167.79.

A number of equities analysts have weighed in on CM shares. Raymond James Financial lifted their price target 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. Jefferies Financial Group lifted their target price on Canadian Imperial Bank of Commerce from C$153.00 to C$154.00 in a report on Thursday, September 3rd. Barclays boosted their price target on Canadian Imperial Bank of Commerce from C$144.00 to C$170.00 in a research report on Friday, August 21st. Canaccord Genuity Group lifted their price objective 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, National Bank Financial set a C$180.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company a “sector perform” rating in a research report on Monday, August 24th.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at C$158.06 on Friday. Canadian Imperial Bank of Commerce has a fifty-two week low of C$109.74 and a fifty-two week high of C$172.87. The company has a market capitalization of C$144.28 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26. The stock has a fifty day moving average of C$164.12 and a two-hundred day moving average of C$153.65.

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

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 28th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, September 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 40.12%.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, insider Stephen Alan Scholtz sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total value of C$976,200.00. Also, insider Amy Florence South sold 1,086 shares of Canadian Imperial Bank of Commerce 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 transaction of C$176,094.90. In the last quarter, insiders sold 8,286 shares of company stock valued at $1,345,399. Insiders own 0.02% of the company’s stock.

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.