Canadian Imperial Bank of Commerce (TSE:CM) Receives C$167.79 Average Price Target from Analysts

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been given a consensus rating of “Hold” by the twelve brokerages that are presently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$167.79.

Several brokerages recently commented on CM. TD boosted their target price 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. Raymond James Financial upped their price objective on Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the company a “market perform” rating in a report on Wednesday, August 12th. Canaccord Genuity Group boosted their price target on shares of Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the stock a “hold” rating in a research report on Friday, August 28th. Jefferies Financial Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$154.00 in a report on Thursday, September 3rd. Finally, Keefe, Bruyette & Woods set a C$186.00 price target on Canadian Imperial Bank of Commerce and gave the company a “hold” rating in a research report on Friday, August 21st.

Canadian Imperial Bank of Commerce Stock Down 0.1%

Shares of CM opened at C$158.80 on Friday. The firm has a market capitalization of C$144.95 billion, a PE ratio of 15.24, a P/E/G ratio of 3.03 and a beta of 1.26. The firm has a 50-day moving average price of C$164.33 and a 200 day moving average price of C$153.40. Canadian Imperial Bank of Commerce has a 52-week low of C$109.29 and a 52-week high of C$172.87.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, August 27th. The company reported C$2.73 earnings per share for the quarter. The company had revenue of C$8.37 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 16.13% and a return on equity of 15.44%. On average, equities analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 28th were paid a $1.07 dividend. The ex-dividend date 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 payout ratio is 40.12%.

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 dated Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total value of C$976,200.00. Also, insider Amy Florence South sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of C$160.92, for a total value of C$193,104.00. Over the last 90 days, insiders have sold 8,286 shares of company stock worth $1,345,399. 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.