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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$93.58.

Several analysts have recently commented on the stock. Scotiabank decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. TD Securities decreased their target price on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. National Bankshares decreased their price objective on Canadian Imperial Bank of Commerce from C$101.00 to C$95.00 and set an “outperform” rating on the stock in a report on Monday. Royal Bank of Canada set a C$108.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the stock an “outperform” rating in a research note on Monday, March 17th. Finally, UBS Group dropped their target price on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Senior Officer Sandy Sharman sold 1,027 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of C$81.27, for a total transaction of C$83,464.29. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 3.7 %

TSE CM opened at C$80.69 on Friday. Canadian Imperial Bank of Commerce has a 52 week low of C$64.02 and a 52 week high of C$95.50. The firm has a market capitalization of C$75.49 billion, a P/E ratio of 10.66, a PEG ratio of 3.03 and a beta of 1.12. The company has a 50-day moving average price of C$83.85 and a 200-day moving average price of C$87.16.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be given a $0.97 dividend. The ex-dividend date is Friday, March 28th. This represents a $3.88 annualized dividend and a dividend yield of 4.81%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 47.55%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.