Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$160.91 and traded as high as C$167.39. Canadian Imperial Bank of Commerce shares last traded at C$166.04, with a volume of 1,712,455 shares trading hands.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Canaccord Genuity Group lifted their target price on Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the stock a “hold” rating in a research note on Tuesday, July 7th. Desjardins increased their price target on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Scotiabank raised their price target on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a report on Tuesday, June 16th. Raymond James Financial reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a “market perform” rating for the company in a research report on Friday, May 29th. Finally, TD decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating on the stock in a report on Friday, May 29th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$153.59.
Get Our Latest Report on Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce Stock Performance
Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last posted its earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. The company had revenue of C$8.01 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 28th were issued a $1.07 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. Canadian Imperial Bank of Commerce’s payout ratio is currently 40.48%.
Insiders Place Their Bets
In other news, insider Christopher John Anderson sold 8,490 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$155.50, for a total value of C$1,320,195.00. Following the completion of the sale, the insider directly owned 6,252 shares in the company, valued at approximately C$972,186. The trade was a 57.59% decrease in their ownership of the stock. Also, insider Amy Florence South sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of C$160.92, for a total value of C$193,104.00. Insiders have sold a total of 17,776 shares of company stock worth $2,817,744 in the last quarter. Corporate insiders own 0.02% of the company’s stock.
Canadian Imperial Bank of Commerce Company Profile
CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.
Further Reading
- Five stocks we like better than Canadian Imperial Bank of Commerce
- Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector
- Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case
- Apple’s Record Quarter Could Not Outrun Its Guidance Problem
- McKesson’s Compounding Keeps Adding Up
Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.
