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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has received an average rating of “Hold” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$167.79.

A number of brokerages recently issued reports on CM. Jefferies Financial Group raised their price target on Canadian Imperial Bank of Commerce from C$153.00 to C$154.00 in a research note on Thursday, September 3rd. Canaccord Genuity Group upped their price objective on Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the company a “hold” rating in a research report on Friday, August 28th. Royal Bank Of Canada increased their target price on Canadian Imperial Bank of Commerce from C$167.00 to C$176.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Desjardins decreased their target price on Canadian Imperial Bank of Commerce from C$173.00 to C$170.00 and set a “hold” rating for the company in a research report on Friday, August 28th. Finally, TD lifted their target price on Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th.

Canadian Imperial Bank of Commerce Price Performance

Shares of TSE CM opened at C$155.63 on Wednesday. The company has a market cap of C$141.30 billion, a P/E ratio of 14.94, a PEG 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 firm has a 50-day simple moving average of C$161.30 and a two-hundred day simple moving average of C$156.51.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results 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 return on equity of 15.44% and a net margin of 16.13%. As a group, equities research analysts expect that Canadian Imperial Bank of Commerce will post 6.41 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

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

Insider Buying and Selling

In related news, insider Amy Florence South sold 4,218 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of C$161.41, for a total value of C$680,827.38. 0.02% of the stock is owned by corporate insiders.

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.