Canadian Imperial Bank of Commerce (TSE:CM) Posts Earnings Results

Canadian Imperial Bank of Commerce (TSE:CMGet Free Report) (NYSE:CM) issued its quarterly earnings data on Thursday. The company reported C$2.73 EPS for the quarter, FiscalAI reports. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%.The firm had revenue of C$8.37 billion during the quarter.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at C$159.09 on Friday. The stock has a 50 day simple moving average of C$164.87 and a 200-day simple moving average of C$151.17. Canadian Imperial Bank of Commerce has a 1-year low of C$105.01 and a 1-year high of C$172.87. The company has a market cap of C$145.22 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 3.03 and a beta of 1.40.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Investors 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 2.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 40.48%.

Wall Street Analyst Weigh In

CM has been the subject of a number of research reports. Jefferies Financial Group lifted their price target on Canadian Imperial Bank of Commerce from C$143.00 to C$153.00 and gave the stock a “hold” rating in a research report on Thursday, August 13th. Keefe, Bruyette & Woods set a C$186.00 price objective on Canadian Imperial Bank of Commerce and gave the company a “hold” rating in a report on Friday, August 21st. Scotiabank raised 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 research note on Tuesday, June 16th. TD increased their price target on shares of Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, National Bank Financial set a C$180.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock a “sector perform” rating in a research report on Monday, August 24th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and an average price target of C$167.71.

Get Our Latest Analysis on Canadian Imperial Bank of Commerce

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, insider Christopher John Anderson sold 8,490 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 6,252 shares of the company’s stock, valued at approximately C$972,186. The trade was a 57.59% decrease in their position. Also, insider Amy Florence South sold 1,200 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of C$160.92, for a total transaction of C$193,104.00. Insiders sold 17,776 shares of company stock valued at $2,817,744 over the last quarter. 0.02% of the stock is currently owned by insiders.

Canadian Imperial Bank of Commerce Company Profile

(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.

See Also

Earnings History for Canadian Imperial Bank of Commerce (TSE:CM)

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