Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$170.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective upped by Barclays from C$144.00 to C$170.00 in a report issued on Friday,BayStreet.CA reports.

A number of other research firms have also recently commented on CM. Scotiabank upped their target price on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a research note on Tuesday, June 16th. Jefferies Financial Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$143.00 to C$153.00 and gave the company a “hold” rating in a research note on Thursday, August 13th. Canaccord Genuity Group upped their price objective on Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the stock a “hold” rating in a research report on Tuesday, July 7th. National Bank Financial upped their price target on Canadian Imperial Bank of Commerce from C$152.00 to C$180.00 and gave the company a “sector perform” rating in a research report on Thursday, August 13th. Finally, Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and upped their price objective for the stock from C$160.00 to C$173.00 in a report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$165.46.

Canadian Imperial Bank of Commerce Trading Up 0.3%

CM opened at C$160.32 on Friday. The company has a market cap of C$146.34 billion, a P/E 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 12 month low of C$100.43 and a 12 month high of C$172.87. The business’s 50-day moving average price is C$164.70 and its 200-day moving average price is C$150.24.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. The firm had revenue of C$8.01 billion for the quarter. Equities research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 28th were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 2.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 40.48%.

Insider Activity

In other Canadian Imperial Bank of Commerce news, insider Stephen Alan Scholtz sold 6,000 shares of the business’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. Also, insider Christopher John Anderson sold 8,490 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the completion of the sale, the insider directly owned 6,252 shares of the company’s stock, valued at C$972,186. The trade was a 57.59% decrease in their position. Insiders have sold 17,776 shares of company stock valued at $2,817,744 in the last three months. Corporate insiders own 0.02% of the company’s stock.

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.