Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$176.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target boosted by Royal Bank Of Canada from C$167.00 to C$176.00 in a research note published on Friday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods set a C$186.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the company a “hold” rating in a report on Friday, August 21st. Canaccord Genuity Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. Jefferies Financial Group raised their target price 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 report on Thursday, August 13th. TD lifted their price target on shares of Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, National Bank Financial set a C$180.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock a “sector perform” rating in a research report on Monday, August 24th. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$167.71.

Canadian Imperial Bank of Commerce Stock Performance

TSE:CM opened at C$159.09 on Friday. The company has a market cap of C$144.44 billion, a PE ratio of 15.27, a PEG ratio of 3.03 and a beta of 1.40. Canadian Imperial Bank of Commerce has a 52-week low of C$105.01 and a 52-week high of C$172.87. The stock has a 50-day simple moving average of C$164.87 and a 200 day simple moving average of C$151.30.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, August 27th. The company reported C$2.73 EPS for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%.The firm had revenue of C$8.37 billion for the quarter. On average, research analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Tuesday, July 28th were paid a $1.07 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.28 annualized dividend and a dividend yield of 2.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 40.12%.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, insider Amy Florence South sold 1,200 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of C$160.92, for a total value of C$193,104.00. Also, insider Christopher John Anderson sold 8,490 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the completion of the transaction, the insider directly owned 6,252 shares of the company’s stock, valued at approximately C$972,186. This trade represents a 57.59% decrease in their position. Over the last three months, insiders have sold 17,776 shares of company stock worth $2,817,744. Insiders own 0.02% of the company’s stock.

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.