Canadian Imperial Bank of Commerce (TSE:CM) Releases Earnings Results

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) announced its earnings results on Thursday. The company reported C$2.73 earnings per share (EPS) for the quarter, FiscalAI reports. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. The company had revenue of C$8.37 billion during the quarter.

Canadian Imperial Bank of Commerce Stock Up 0.1%

Shares of CM opened at C$163.82 on Thursday. The stock has a market cap of C$149.54 billion, a PE ratio of 16.25, a PEG ratio of 3.03 and a beta of 1.40. Canadian Imperial Bank of Commerce has a 12-month low of C$102.30 and a 12-month high of C$172.87. The business has a 50-day simple moving average of C$164.87 and a two-hundred day simple moving average of C$150.93.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 28th were issued 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 2.6%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 40.48%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Scotiabank lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a “sector perform” rating in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods set a C$186.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock a “hold” rating in a research report on Friday, August 21st. Jefferies Financial Group lifted their price target on shares of Canadian Imperial Bank of Commerce from C$143.00 to C$153.00 and gave the company a “hold” rating in a research report on Thursday, August 13th. Desjardins cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and boosted their price target for the company from C$160.00 to C$173.00 in a research note on Wednesday, August 5th. Finally, Raymond James Financial increased their price target on Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the stock a “market perform” rating in a research report on Wednesday, August 12th. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$165.46.

Insiders Place Their Bets

In other Canadian Imperial Bank of Commerce news, insider Stephen Alan Scholtz sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of C$162.70, for a total transaction of C$976,200.00. Also, insider Amy Florence South sold 1,086 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of C$162.15, for a total transaction of C$176,094.90. Insiders have sold 17,776 shares of company stock valued at $2,817,744 in the last ninety days. 0.02% of the stock is currently owned by insiders.

About Canadian Imperial Bank of Commerce

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.