Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been given an average recommendation of “Hold” by the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$113.25.
CM has been the topic of several recent research reports. National Bank Financial decreased their price objective on Canadian Imperial Bank of Commerce from C$114.00 to C$110.00 and set a “sector perform” rating on the stock in a report on Friday. Eight Capital cut their target price on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$107.00 in a report on Wednesday, August 14th. BMO Capital Markets reduced their price target on shares of Canadian Imperial Bank of Commerce from C$117.00 to C$114.00 in a research report on Friday. TD Securities reduced their price target on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$115.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Cormark decreased their price target on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$115.00 in a research note on Friday.
TSE CM traded up C$0.99 on Tuesday, reaching C$109.87. The company had a trading volume of 1,676,753 shares, compared to its average volume of 1,585,402. The stock has a market capitalization of $48.94 billion and a PE ratio of 9.63. Canadian Imperial Bank of Commerce has a 12 month low of C$97.55 and a 12 month high of C$115.96. The firm’s 50 day moving average price is C$113.68 and its 200 day moving average price is C$106.77.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be issued a $1.44 dividend. The ex-dividend date of this dividend is Tuesday, December 24th. This represents a $5.76 annualized dividend and a dividend yield of 5.24%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 48.38%.
In other news, Director Katharine Berghuis Stevenson purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were bought at an average cost of C$109.52 per share, for a total transaction of C$438,080.00. Following the acquisition, the director now owns 20,352 shares of the company’s stock, valued at approximately C$2,228,951.04.
Canadian Imperial Bank of Commerce Company Profile
Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.
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