Canadian Imperial Bank of Commerce (TSE:CM) Price Target Lowered to C$92.00 at Canaccord Genuity Group

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price cut by Canaccord Genuity Group from C$93.00 to C$92.00 in a report issued on Monday morning,BayStreet.CA reports.

CM has been the subject of several other research reports. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and cut their target price for the stock from C$100.00 to C$89.00 in a research note on Monday, April 21st. Royal Bank of Canada set a C$108.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock an “outperform” rating in a research note on Monday, March 17th. UBS Group reduced their target price on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research note on Friday, February 14th. Scotiabank reduced their price target 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. Finally, TD Securities cut their price target 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 note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and an average price target of C$94.31.

Canadian Imperial Bank of Commerce Trading Up 1.4%

CM opened at C$91.56 on Monday. Canadian Imperial Bank of Commerce has a 1-year low of C$64.47 and a 1-year high of C$95.50. The company’s fifty day moving average price is C$83.00 and its two-hundred day moving average price is C$87.42. The company has a market cap of C$85.66 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, March 28th were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $3.88 dividend on an annualized basis and a yield of 4.24%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 47.55%.

Insider Activity at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Sandy Sharman sold 1,027 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$81.27, for a total value of C$83,464.29. 0.02% of the stock is currently owned by corporate insiders.

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.