Canadian Imperial Bank of Commerce (TSE:CM) Receives C$87.17 Average Price Target from Analysts

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$87.17.

A number of analysts have recently issued reports on the stock. Scotiabank increased their price target on shares of Canadian Imperial Bank of Commerce from C$85.00 to C$108.00 in a research report on Monday, November 25th. Desjardins raised 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. BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday, November 18th. Cormark upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and upped their price target for the company from C$75.00 to C$83.00 in a research report on Friday, August 30th. Finally, Royal Bank of Canada lifted their price objective on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th.

Insider Activity

In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total transaction of C$441,791.70. Also, Senior Officer Christina Charlotte Kramer sold 37,022 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$83.40, for a total transaction of C$3,087,634.80. Insiders sold 203,057 shares of company stock valued at $16,823,249 in the last quarter. Company insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Down 0.8 %

Shares of TSE:CM opened at C$89.30 on Friday. The company’s fifty day moving average is C$86.75 and its two-hundred day moving average is C$75.87. The company has a market cap of C$84.39 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12-month low of C$56.17 and a 12-month high of C$92.17.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.03%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is 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.