Canadian Imperial Bank of Commerce (TSE:CM) Given Consensus Recommendation of “Hold” by Analysts

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been assigned a consensus recommendation of “Hold” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$165.46.

Several research firms have recently commented on CM. Scotiabank boosted their price target on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a report on Tuesday, June 16th. National Bank Financial upped their price target on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$180.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. TD increased their price objective on Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Keefe, Bruyette & Woods set a C$186.00 price objective on Canadian Imperial Bank of Commerce and gave the company a “market perform” rating in a research report on Friday. Finally, Barclays boosted their target price on Canadian Imperial Bank of Commerce from C$144.00 to C$170.00 in a research note on Friday.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at C$160.32 on Tuesday. The business’s 50-day moving average is C$164.70 and its 200-day moving average is C$150.09. The company has a market capitalization of C$146.34 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 3.03 and a beta of 1.40. Canadian Imperial Bank of Commerce has a fifty-two week low of C$100.43 and a fifty-two week high of C$172.87.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. The business 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%. Equities research analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company 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. This represents a $4.28 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is currently 40.48%.

Insider Activity

In related news, insider Amy Florence South sold 1,086 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of C$162.15, for a total value of C$176,094.90. Also, 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. Insiders sold a total of 17,776 shares of company stock worth $2,817,744 in the last three months. 0.02% of the stock is owned by insiders.

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.