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

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$152.86.

A number of brokerages have recently commented on CM. Jefferies Financial Group boosted their price objective on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research report on Wednesday, May 20th. Canaccord Genuity Group raised their target price on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$160.00 and gave the company a “hold” rating in a report on Friday, June 5th. Raymond James Financial decreased 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 note on Friday, May 29th. Desjardins boosted 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 report on Tuesday, May 5th. Finally, Scotiabank increased their price objective 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.

Canadian Imperial Bank of Commerce Trading Up 0.1%

Shares of TSE CM opened at C$161.76 on Monday. The stock has a market cap of C$147.65 billion, a P/E ratio of 16.05, a PEG ratio of 3.03 and a beta of 1.42. Canadian Imperial Bank of Commerce has a 12-month low of C$97.31 and a 12-month high of C$165.00. The business’s fifty day simple moving average is C$155.46 and its 200-day simple moving average is C$140.43.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The firm had revenue of C$8.01 billion during the quarter. On average, equities analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 28th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is 40.48%.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, insider Amy Florence South sold 1,200 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of C$160.92, for a total value of C$193,104.00. Also, insider Stephen Alan Scholtz sold 6,000 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total value of C$976,200.00. Over the last quarter, insiders sold 17,776 shares of company stock worth $2,817,744. Corporate 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.