Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$175.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price boosted by TD from C$163.00 to C$175.00 in a research report sent to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also commented on CM. National Bank Financial upped their target price on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a research report on Friday, May 15th. Raymond James Financial reduced 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 report on Friday, May 29th. Scotiabank upped 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 report on Tuesday, June 16th. Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and increased their price objective for the stock from C$160.00 to C$173.00 in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group raised their target price on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a report on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$160.95.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at C$171.76 on Wednesday. The stock has a 50-day moving average of C$163.75 and a two-hundred day moving average of C$148.76. Canadian Imperial Bank of Commerce has a one year low of C$100.43 and a one year high of C$171.76. The stock has a market cap of C$156.78 billion, a P/E ratio of 17.04, a P/E/G ratio of 3.03 and a beta of 1.40.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. The business had revenue of C$8.01 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%. Analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Tuesday, July 28th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 40.48%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, insider Christopher John Anderson sold 8,490 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of C$155.50, for a total value of C$1,320,195.00. Following the completion of the transaction, the insider directly owned 6,252 shares of the company’s stock, valued at approximately C$972,186. The trade was a 57.59% decrease in their ownership of the stock. Also, insider Amy Florence South sold 1,200 shares of the company’s stock in a transaction that occurred 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. Over the last ninety days, insiders sold 17,776 shares of company stock valued at $2,817,744. 0.02% of the stock is owned by company 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.