Canadian Imperial Bank of Commerce (TSE:CM) Receives C$160.95 Consensus PT from Brokerages

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been given an average rating of “Hold” by the eleven analysts that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$160.95.

CM has been the subject of several recent research reports. National Bank Financial upped their target price on Canadian Imperial Bank of Commerce from C$152.00 to C$180.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. Scotiabank raised their price target on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a “sector perform” rating in a report on Tuesday, June 16th. Desjardins lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$160.00 to C$173.00 in a research report on Wednesday, August 5th. Jefferies Financial Group upped their price objective on Canadian Imperial Bank of Commerce from C$143.00 to C$153.00 and gave the stock a “hold” rating in a research note on Thursday, August 13th. Finally, Canaccord Genuity Group increased their target price on Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the stock a “hold” rating in a research report on Tuesday, July 7th.

Canadian Imperial Bank of Commerce Stock Performance

TSE CM opened at C$159.77 on Tuesday. Canadian Imperial Bank of Commerce has a one year low of C$100.43 and a one year high of C$172.87. The company has a 50-day simple moving average of C$164.67 and a 200-day simple moving average of C$150.02. The firm has a market capitalization of C$145.84 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 3.03 and a beta of 1.40.

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

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 28th were given a dividend of $1.07 per share. The ex-dividend date was Monday, June 29th. This represents a $4.28 annualized dividend and a dividend yield of 2.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 40.48%.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, insider Amy Florence South sold 1,200 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of C$160.92, for a total value of C$193,104.00. Also, insider Stephen Alan Scholtz sold 6,000 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of C$162.70, for a total transaction of C$976,200.00. Over the last quarter, insiders sold 17,776 shares of company stock worth $2,817,744. 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 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.