National Bankshares Boosts Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$94.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target upped by National Bankshares from C$86.00 to C$94.00 in a research report released on Wednesday morning,BayStreet.CA reports.

A number of other equities research analysts also recently weighed in on the company. Cormark upgraded 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. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and boosted their target price for the company from C$74.00 to C$90.00 in a research note on Friday, August 30th. Scotiabank raised their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Barclays boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research report on Friday, August 30th. Finally, Canaccord Genuity Group raised their target price on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$92.00 in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$85.25.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at C$91.48 on Wednesday. The firm’s fifty day moving average price is C$85.69 and its 200 day moving average price is C$74.58. The company has a market capitalization of C$86.45 billion, a price-to-earnings ratio of 13.24, 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$51.60 and a 12-month high of C$91.63.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.75 by C$0.18. The company 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%. Analysts forecast 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 firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were given a $0.90 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.60 annualized dividend and a yield of 3.94%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 52.10%.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Sandy Sharman sold 2,275 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$83.04, for a total transaction of C$188,916.00. Also, Director Harry Kenneth Culham sold 50,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of C$81.87, for a total value of C$4,093,500.00. Insiders sold a total of 203,057 shares of company stock valued at $16,823,249 in the last three months. 0.02% of the stock is currently owned by corporate insiders.

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.