Canadian Imperial Bank of Commerce (TSE:CM – Free Report) (NYSE:CM) had its price target increased by Scotiabank from C$77.00 to C$85.00 in a research note published on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.
A number of other research firms also recently commented on CM. UBS Group set a C$70.00 target price on shares of Canadian Imperial Bank of Commerce and gave the company a neutral rating in a research report on Tuesday, July 2nd. 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 report on Tuesday, August 13th. TD Securities boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$76.00 to C$83.00 in a research note on Thursday, August 8th. Jefferies Financial Group dropped their target price 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. Finally, Royal Bank of Canada boosted their price target on Canadian Imperial Bank of Commerce from C$68.00 to C$69.00 and gave the stock a sector perform rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of C$77.50.
Check Out Our Latest Stock Analysis on CM
Canadian Imperial Bank of Commerce Stock Up 1.6 %
Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last announced its quarterly earnings results on Thursday, May 30th. The company reported C$1.75 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of C$6.11 billion. On average, research analysts expect that Canadian Imperial Bank of Commerce will post 7.3207171 earnings per share for the current 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 paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 54.96%.
Insiders Place Their Bets
In related news, Senior Officer John Hountalas sold 20,808 shares of the company’s 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. In related news, Senior Officer John Hountalas sold 20,808 shares of the stock in a transaction that occurred 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. Also, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the firm’s stock in a transaction that occurred 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. 0.02% of the stock is 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.
Featured Articles
- Five stocks we like better than Canadian Imperial Bank of Commerce
- How to Find Undervalued Stocks
- The Solar Stock Battle: Is Daqo or JinkoSolar Your Next Big Win?
- Health Care Stocks Explained: Why You Might Want to Invest
- Are These Chinese Stocks a Buy? Michael Burry’s Top Picks Say Yes
- How to Capture the Benefits of Dividend Increases
- Five Below Stock Faces Challenges Despite Strong Revenue Growth
Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.