Canadian Imperial Bank of Commerce (TSE:CM) Receives C$167.79 Consensus PT from Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been given an average rating of “Hold” by the twelve analysts that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$167.79.

A number of analysts recently issued reports on CM shares. Royal Bank Of Canada increased their target price on shares of Canadian Imperial Bank of Commerce from C$167.00 to C$176.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Raymond James Financial increased their price objective on shares of 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. Keefe, Bruyette & Woods set a C$186.00 target price on shares of Canadian Imperial Bank of Commerce and gave the company a “hold” rating in a report on Friday, August 21st. Scotiabank upped their price target 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 report on Tuesday, June 16th. Finally, Barclays increased their price target on Canadian Imperial Bank of Commerce from C$144.00 to C$170.00 in a report on Friday, August 21st.

Canadian Imperial Bank of Commerce Trading Up 1.2%

CM stock opened at C$161.03 on Friday. The company has a market cap of C$146.20 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26. The stock has a 50-day moving average price of C$163.92 and a two-hundred day moving average price of C$153.85. Canadian Imperial Bank of Commerce has a 12-month low of C$109.74 and a 12-month high of C$172.87.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, August 27th. The company reported C$2.73 EPS for the quarter. The company had revenue of C$8.37 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%. Equities analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 28th will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, September 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 40.12%.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, insider Stephen Alan Scholtz sold 6,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total value of C$976,200.00. Also, insider Amy Florence South sold 1,200 shares of the firm’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 transaction of C$193,104.00. Insiders have sold a total of 8,286 shares of company stock worth $1,345,399 over the last three months. 0.02% of the stock is currently owned by corporate 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.