Canadian Imperial Bank of Commerce (TSE:CM) Price Target Cut to C$91.00 by Analysts at TD Securities

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective cut by TD Securities from C$93.00 to C$91.00 in a report issued on Friday, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research firms have also commented on CM. Royal Bank of Canada upped their price target on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a sector perform rating in a report on Friday. Canaccord Genuity Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a report on Tuesday, August 13th. Barclays raised their target price on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an underweight rating in a research note on Friday. Scotiabank upped their price target on Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an outperform rating in a research report on Friday. Finally, Jefferies Financial Group cut their price objective on Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a buy rating on the stock in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of C$77.50.

Canadian Imperial Bank of Commerce Trading Up 1.6 %

CM opened at C$78.76 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of C$47.44 and a 12 month high of C$79.62. The business’s 50-day moving average price is C$69.26 and its 200-day moving average price is C$67.11. The company has a market cap of C$74.27 billion, a P/E ratio of 12.02, a P/E/G ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, May 30th. The company reported C$1.75 EPS for the quarter, topping analysts’ consensus estimates of C$1.66 by C$0.09. Canadian Imperial Bank of Commerce had a return on equity of 11.92% and a net margin of 29.25%. The business had revenue of C$6.16 billion for the quarter, compared to analysts’ expectations of C$6.11 billion. Equities research analysts forecast that Canadian Imperial Bank of Commerce will post 7.3207171 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 54.96%.

Insider Buying and Selling

In related news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of C$67.50, for a total transaction of C$1,605,285.00. In other Canadian Imperial Bank of Commerce news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of C$67.50, for a total value of C$1,605,285.00. Also, Senior Officer John Hountalas sold 20,808 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$65.97, for a total value of C$1,372,672.55. 0.02% of the stock is owned by company insiders.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.