Canadian Imperial Bank of Commerce (TSE:CM) Stock Has Average Price Target of C$167.79 According to Analysts

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been assigned an average recommendation of “Hold” from the twelve research firms that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$167.79.

A number of research analysts have recently weighed in on the stock. TD increased their target price 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, August 12th. Barclays lifted their price target on shares of Canadian Imperial Bank of Commerce from C$144.00 to C$170.00 in a report on Friday, August 21st. Keefe, Bruyette & Woods set a C$186.00 price objective on Canadian Imperial Bank of Commerce and gave the company a “hold” rating in a research note on Friday, August 21st. Jefferies Financial Group increased their price objective on Canadian Imperial Bank of Commerce from C$153.00 to C$154.00 in a report on Thursday, September 3rd. Finally, Scotiabank raised their target price 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.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at C$155.63 on Wednesday. The firm has a market cap of C$141.30 billion, a PE ratio of 14.94, a P/E/G ratio of 3.03 and a beta of 1.32. Canadian Imperial Bank of Commerce has a 1 year low of C$111.45 and a 1 year high of C$172.87. The stock has a fifty day moving average price of C$161.30 and a 200-day moving average price of C$156.34.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, August 27th. The company reported C$2.73 earnings per share (EPS) for the quarter. The business had revenue of C$8.37 billion during 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, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 6.41 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 28th will be paid a dividend of $1.07 per share. The ex-dividend date is Monday, September 28th. This represents a $4.28 annualized dividend and a dividend yield of 2.8%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 40.12%.

Insiders Place Their Bets

In related news, insider Amy Florence South sold 4,218 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of C$161.41, for a total value of C$680,827.38. Company 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.