Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$114.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target hoisted by Scotiabank from C$108.00 to C$114.00 in a report published on Friday morning,BayStreet.CA reports.

A number of other equities research analysts have also weighed in on the company. Desjardins boosted their price objective on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. National Bankshares increased their price objective on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. Jefferies Financial Group cut their target price on 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. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and raised their price objective for the stock from C$74.00 to C$90.00 in a research report on Friday, August 30th. Finally, TD Securities boosted their price target on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$90.00.

Canadian Imperial Bank of Commerce Stock Performance

The firm has a 50 day moving average price of C$87.10 and a 200-day moving average price of C$76.21. Canadian Imperial Bank of Commerce has a twelve month low of C$57.52 and a twelve month high of C$94.81. The company has a market capitalization of C$89.16 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of ∞. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. Canadian Imperial Bank of Commerce’s payout ratio is presently 52.10%.

Insiders Place Their Bets

In related news, Senior Officer Shawn Beber sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of C$81.80, for a total value of C$817,960.00. Also, Director Harry Kenneth Culham sold 47,430 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of C$83.41, for a total value of C$3,956,136.30. Insiders sold 147,527 shares of company stock valued at $12,287,957 over the last three months. Insiders own 0.02% of the company’s stock.

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.