TD Securities Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective hoisted by TD Securities from C$91.00 to C$98.00 in a research note released on Friday,BayStreet.CA reports.

CM has been the topic of a number of other research reports. Desjardins raised their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and boosted their price objective for the company from C$75.00 to C$83.00 in a report on Friday, August 30th. Royal Bank of Canada upped their target price on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. BMO Capital Markets lifted their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Finally, Scotiabank upped their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$81.08.

Canadian Imperial Bank of Commerce Price Performance

The company has a market cap of C$84.78 billion, a PE ratio of 12.99, a P/E/G ratio of 3.03 and a beta of 1.12. The stock’s fifty day moving average price is C$84.81 and its 200-day moving average price is C$73.93. Canadian Imperial Bank of Commerce has a twelve month low of C$51.60 and a twelve month high of C$90.57.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. The company had revenue of C$6.60 billion for the quarter, compared to the consensus estimate of C$6.31 billion. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of ?. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 52.10%.

Insider Activity

In related news, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$83.40, for a total value of C$3,087,634.80. Also, Director Harry Kenneth Culham sold 800 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of C$83.20, for a total transaction of C$66,560.00. Insiders have sold a total of 203,057 shares of company stock worth $16,823,249 over the last three months. Corporate insiders own 0.02% of the company’s stock.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.