Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has received an average rating of “Hold” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$134.18.

A number of equities research analysts recently issued reports on the company. TD Securities increased their price target on Canadian Imperial Bank of Commerce from C$140.00 to C$145.00 and gave the stock a “buy” rating in a research report on Thursday, August 23rd. National Bank Financial increased their price target on Canadian Imperial Bank of Commerce from C$124.00 to C$127.00 and gave the stock a “sector perform” rating in a research report on Friday, August 24th. Finally, BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 and gave the stock a “market perform” rating in a research report on Friday, August 24th.

TSE:CM traded down C$1.01 on Friday, hitting C$112.24. The company’s stock had a trading volume of 1,404,600 shares, compared to its average volume of 1,200,423. Canadian Imperial Bank of Commerce has a one year low of C$110.00 and a one year high of C$125.21.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, August 23rd. The company reported C$3.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$2.88 by C$0.20. The company had revenue of C$4.55 billion for the quarter, compared to analyst estimates of C$4.39 billion. Canadian Imperial Bank of Commerce had a return on equity of 18.90% and a net margin of 31.76%.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 29th. Investors of record on Friday, September 28th will be given a dividend of $1.36 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $5.44 dividend on an annualized basis and a yield of 4.85%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.33.

In other Canadian Imperial Bank of Commerce news, insider John Hountalas sold 9,033 shares of the firm’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of C$124.55, for a total value of C$1,125,060.15. Also, Director Victor George Dodig sold 16,000 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of C$122.91, for a total value of C$1,966,560.00.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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