Canadian Imperial Bank of Commerce (TSE:CM) Downgraded by Jefferies Financial Group to Hold

Jefferies Financial Group downgraded shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) from a buy rating to a hold rating in a research report report published on Monday morning,BayStreet.CA reports. Jefferies Financial Group currently has C$89.00 price target on the stock, down from their previous price target of C$100.00.

Several other research analysts have also recently commented on CM. TD Securities lowered their target price on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Royal Bank of Canada set a C$108.00 price objective on Canadian Imperial Bank of Commerce and gave the stock an “outperform” rating in a research note on Monday, March 17th. UBS Group dropped their price objective on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. Scotiabank reduced their target price on Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Finally, National Bankshares decreased their price target on Canadian Imperial Bank of Commerce from C$101.00 to C$95.00 and set an “outperform” rating on the stock in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$94.50.

Canadian Imperial Bank of Commerce Stock Performance

CM stock opened at C$83.55 on Monday. Canadian Imperial Bank of Commerce has a 52 week low of C$64.02 and a 52 week high of C$95.50. The company has a market capitalization of C$78.17 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The company’s 50-day simple moving average is C$82.47 and its 200 day simple moving average is C$86.98.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a $0.97 dividend. The ex-dividend date is Friday, March 28th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.64%. Canadian Imperial Bank of Commerce’s payout ratio is currently 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 dated 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 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.