Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$83.00 at Desjardins

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price lifted by Desjardins from C$77.00 to C$83.00 in a research note released on Friday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. National Bankshares lifted their target price on Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the stock an outperform rating in a report on Friday. Canaccord Genuity Group lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research note on Tuesday, August 13th. Cormark set a C$72.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock a market perform rating in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a hold rating to a moderate buy rating in a research note on Monday, June 3rd. Finally, Jefferies Financial Group cut their price objective on shares of 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of C$77.50.

Canadian Imperial Bank of Commerce Stock Up 1.6 %

Shares of TSE CM opened at C$78.76 on Friday. The company has a market capitalization of C$74.27 billion, a PE ratio of 12.02, a P/E/G ratio of 3.01 and a beta of 1.12. Canadian Imperial Bank of Commerce has a twelve month low of C$47.44 and a twelve month high of C$79.62. The firm has a fifty day simple moving average of C$69.26 and a 200 day simple moving average of C$67.11.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, May 30th. The company reported C$1.75 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of C$6.16 billion during the quarter, compared to analyst estimates of C$6.11 billion. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 7.3207171 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

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

Insider Activity at Canadian Imperial Bank of Commerce

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

About Canadian Imperial Bank of Commerce

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.