Canadian Imperial Bank of Commerce (TSE:CM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$153.05.

Several brokerages have recently issued reports on CM. Jefferies Financial Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a report on Wednesday, May 20th. National Bank Financial upped their price target on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a report on Friday, May 15th. Canaccord Genuity Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$160.00 and gave the stock a “hold” rating in a report on Friday. Desjardins boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, TD Securities boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the stock a “buy” rating in a research note on Friday, February 27th.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, insider Christopher John Anderson sold 1,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of C$152.15, for a total value of C$152,150.00. Following the sale, the insider owned 6,252 shares of the company’s stock, valued at C$951,241.80. The trade was a 13.79% decrease in their ownership of the stock. 0.02% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM opened at C$152.95 on Thursday. The company has a fifty day moving average of C$147.99 and a 200-day moving average of C$135.49. The company has a market capitalization of C$139.61 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 3.03 and a beta of 1.42. Canadian Imperial Bank of Commerce has a 52-week low of C$91.94 and a 52-week high of C$162.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share (EPS) for the quarter. The company had revenue of C$8.01 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. On average, 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th were paid a $1.07 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $4.28 annualized dividend and a dividend yield of 2.8%. Canadian Imperial Bank of Commerce’s payout ratio is currently 40.48%.

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.