Canadian Imperial Bank of Commerce (TSE:CM) Receives C$126.09 Consensus PT from Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have earned an average rating of “Hold” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$126.09.

A number of brokerages recently commented on CM. TD Securities increased their price target on Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Barclays upped their price objective on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research note on Monday, December 8th. Royal Bank Of Canada lifted their target price on Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Desjardins increased their price target on shares of Canadian Imperial Bank of Commerce from C$132.00 to C$135.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Finally, BMO Capital Markets raised their price objective on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a report on Wednesday, December 17th.

Canadian Imperial Bank of Commerce Price Performance

TSE:CM opened at C$125.84 on Friday. The firm has a 50-day moving average of C$125.63 and a 200-day moving average of C$115.10. The company has a market cap of C$116.60 billion, a PE ratio of 14.68, a PEG ratio of 3.03 and a beta of 1.31. Canadian Imperial Bank of Commerce has a one year low of C$76.17 and a one year high of C$129.25.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Thursday, December 4th. The company reported C$2.21 EPS for the quarter. The firm had revenue of C$7.58 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%. On average, equities research analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.4%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Monday, December 29th. Canadian Imperial Bank of Commerce’s payout ratio is currently 45.27%.

Insider Activity at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, insider Frank Guse sold 5,000 shares of the business’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the sale, the insider owned 1,359 shares of the company’s stock, valued at C$172,810.44. The trade was a 78.63% decrease in their position. Insiders own 0.02% of the company’s stock.

About Canadian Imperial Bank of Commerce

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.