Canadian Imperial Bank of Commerce (TSE:CM) Receives C$153.59 Average Price Target from Analysts

Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) has received an average rating of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$153.59.

A number of analysts have recently commented on the company. Scotiabank upped their price objective on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a “sector perform” rating in a report on Tuesday, June 16th. National Bank Financial lifted their target price on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a report on Friday, May 15th. TD reduced their target price on 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. Jefferies Financial Group boosted their price target on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research report on Wednesday, May 20th. Finally, Canaccord Genuity Group upped their price target 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.

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Check Out Our Latest Analysis on CM

Insider Buying and Selling

In related news, insider Christopher John Anderson sold 8,490 shares of the 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 transaction of C$1,320,195.00. Following the completion of the sale, the insider owned 6,252 shares of the company’s stock, valued at approximately C$972,186. This represents a 57.59% decrease in their position. Also, insider Amy Florence South sold 1,086 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of C$162.15, for a total transaction of C$176,094.90. In the last quarter, insiders sold 17,776 shares of company stock valued at $2,817,744. 0.02% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at C$165.68 on Friday. Canadian Imperial Bank of Commerce has a 1 year low of C$97.81 and a 1 year high of C$171.64. The firm has a 50 day moving average price of C$159.94 and a 200 day moving average price of C$144.69. The company has a market cap of C$151.23 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 3.03 and a beta of 1.39.

Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last posted its quarterly 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 for the quarter. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. Sell-side analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 28th will be issued a dividend of $1.07 per share. The ex-dividend date is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.6%. Canadian Imperial Bank of Commerce’s payout ratio is presently 40.48%.

About Canadian Imperial Bank of Commerce

(Get Free Report)

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.

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