Canadian Imperial Bank of Commerce (TSE:CM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received an average rating of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$153.59.

Several brokerages have recently weighed in on CM. TD reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating for the company in a research report on Friday, May 29th. Scotiabank increased their target price on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a research report on Tuesday, June 16th. Jefferies Financial Group lifted their price target on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research note on Wednesday, May 20th. Desjardins lifted their price target on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Raymond James Financial reduced their price target on shares of Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a “market perform” rating for the company in a research report on Friday, May 29th.

Insider Activity

In other Canadian Imperial Bank of Commerce news, insider Christopher John Anderson sold 8,490 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the completion of the transaction, the insider owned 6,252 shares in the company, valued at approximately C$972,186. The trade was a 57.59% decrease in their ownership of the stock. Also, insider Stephen Alan Scholtz sold 6,000 shares of Canadian Imperial Bank of Commerce 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. Insiders sold 17,776 shares of company stock valued at $2,817,744 in the last three months. 0.02% of the stock is currently owned by company insiders.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at C$169.04 on Friday. Canadian Imperial Bank of Commerce has a fifty-two week low of C$97.81 and a fifty-two week high of C$171.64. The firm has a 50 day moving average price of C$160.51 and a 200 day moving average price of C$145.27. The company has a market capitalization of C$154.30 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 3.03 and a beta of 1.39.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data 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 business had revenue of C$8.01 billion for the quarter. As a group, equities research analysts forecast 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 company also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 28th were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 40.48%.

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.