Desjardins Analysts Give Canadian Imperial Bank of Commerce (TSE:CM) a C$170.00 Price Target

Desjardins set a C$170.00 target price on Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) in a research report released on Wednesday morning,BayStreet reports. The firm currently has a hold rating on the stock.

A number of other analysts have also weighed in on CM. Barclays increased their target price on shares of Canadian Imperial Bank of Commerce from C$144.00 to C$170.00 in a report on Friday, August 21st. Raymond James Financial boosted their price target on Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the company a “market perform” rating in a report on Wednesday, August 12th. National Bank Financial set a C$180.00 price target on Canadian Imperial Bank of Commerce and gave the company a “sector perform” rating in a research report on Monday, August 24th. 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, Canaccord Genuity Group lifted their price objective on Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the stock a “hold” rating in a research report on Friday, August 28th. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$167.71.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at C$164.99 on Wednesday. Canadian Imperial Bank of Commerce has a 52-week low of C$116.65 and a 52-week high of C$172.87. The company’s 50 day moving average price is C$160.32 and its 200-day moving average price is C$152.77. The stock has a market capitalization of C$149.80 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 3.03 and a beta of 1.23.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, August 27th. The company reported C$2.73 EPS for the quarter. The company 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 research analysts forecast that Canadian Imperial Bank of Commerce will post 6.41 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 28th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, September 28th. Canadian Imperial Bank of Commerce’s payout ratio is presently 40.12%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, insider Amy Florence South sold 4,218 shares of the stock in a transaction that occurred on 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, 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.