Canadian Imperial Bank of Commerce (TSE:CM) Given New C$108.00 Price Target at Scotiabank

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target hoisted by Scotiabank from C$85.00 to C$108.00 in a research report sent to investors on Monday,BayStreet.CA reports.

Several other equities research analysts have also recently weighed in on CM. National Bankshares upped their price target on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. 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 stock from C$74.00 to C$90.00 in a research report on Friday, August 30th. Cormark raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and lifted their price target for the company from C$75.00 to C$83.00 in a research report on Friday, August 30th. Desjardins boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Jefferies Financial Group decreased their target price 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 note on Monday, August 12th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$87.17.

Canadian Imperial Bank of Commerce Trading Down 0.4 %

Shares of CM opened at C$90.70 on Monday. Canadian Imperial Bank of Commerce has a 1-year low of C$51.60 and a 1-year high of C$92.17. The firm has a market capitalization of C$85.71 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 3.03 and a beta of 1.12. The firm’s 50-day moving average price is C$86.21 and its 200-day moving average price is C$75.20.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted 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 firm 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 return on equity of 12.37% and a net margin of 29.56%. On average, research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were issued a $0.90 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a yield of 3.97%. Canadian Imperial Bank of Commerce’s payout ratio is currently 52.10%.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, Director Harry Kenneth Culham sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of C$81.87, for a total value of C$4,093,500.00. Also, Senior Officer Hratch Dikran Panossian sold 5,530 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total transaction of C$441,791.70. In the last three months, insiders have sold 203,057 shares of company stock valued at $16,823,249. 0.02% of the stock is owned by corporate 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.