Brokerages Set Canadian Imperial Bank of Commerce (TSE:CM) Price Target at C$79.15

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$79.15.

Several brokerages have commented on CM. Canaccord Genuity Group upped their price objective on Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research report on Tuesday, August 13th. Jefferies Financial Group lowered their price objective on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research report on Monday, August 12th. TD Securities reduced their price objective on Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and boosted their price target for the company from C$75.00 to C$83.00 in a report on Friday, August 30th. Finally, UBS Group set a C$70.00 target price on Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a research report on Tuesday, July 2nd.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, Director Harry Kenneth Culham sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of C$83.42, for a total value of C$4,170,750.00. In related news, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$83.40, for a total transaction of C$3,087,634.80. Also, Director Harry Kenneth Culham sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of C$83.42, for a total value of C$4,170,750.00. Insiders have sold a total of 203,057 shares of company stock valued at $16,823,249 in the last ninety days. Company insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of TSE CM opened at C$83.88 on Friday. The stock has a market capitalization of C$79.26 billion, a P/E ratio of 12.14, a PEG ratio of 3.01 and a beta of 1.12. The business’s 50 day moving average is C$78.18 and its two-hundred day moving average is C$70.83. Canadian Imperial Bank of Commerce has a 1-year low of C$47.44 and a 1-year high of C$84.46.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share for the quarter, beating the consensus estimate of C$1.75 by C$0.18. The business had revenue of C$6.60 billion for the quarter, compared to the consensus estimate of C$6.31 billion. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. As a group, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 7.5827138 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be paid 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 4.29%. Canadian Imperial Bank of Commerce’s payout ratio is currently 52.10%.

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.