Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$92.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price lifted by Canaccord Genuity Group from C$81.00 to C$92.00 in a report released on Tuesday morning,BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on CM. Scotiabank raised their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. TD Securities lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research note on Friday, November 15th. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and upped their target price for the company from C$74.00 to C$90.00 in a research note on Friday, August 30th. Jefferies Financial Group cut their target price 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 report on Monday, August 12th. Finally, Cormark raised 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. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus target price of C$83.00.

Canadian Imperial Bank of Commerce Stock Up 0.4 %

Shares of TSE:CM opened at C$91.11 on Tuesday. Canadian Imperial Bank of Commerce has a 12 month low of C$51.60 and a 12 month high of C$91.39. The firm has a market cap of C$86.10 billion, a P/E ratio of 13.19, a P/E/G ratio of 3.03 and a beta of 1.12. The company’s 50-day moving average price is C$85.47 and its two-hundred day moving average price is C$74.46.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.75 by C$0.18. The company had revenue of C$6.60 billion during the quarter, compared to the consensus estimate of C$6.31 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.60 annualized dividend and a dividend yield of 3.95%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 52.10%.

Insider Buying and Selling

In other news, Director Harry Kenneth Culham sold 800 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of C$83.20, for a total value of C$66,560.00. Also, Senior Officer Shawn Beber sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of C$81.80, for a total value of C$817,960.00. Insiders have sold 203,057 shares of company stock worth $16,823,249 in the last 90 days. Insiders own 0.02% of the company’s stock.

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.