Canadian Imperial Bank of Commerce (TSE:CM – Free Report) (NYSE:CM) had its price target increased by Canaccord Genuity Group from C$168.00 to C$169.00 in a report issued on Friday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.
A number of other research analysts also recently issued reports on CM. Keefe, Bruyette & Woods set a C$186.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock a “hold” rating in a research report on Friday, August 21st. Raymond James Financial increased their price objective on shares of Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the stock a “market perform” rating in a research report on Wednesday, August 12th. Scotiabank increased their price objective on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 16th. Jefferies Financial Group lifted their target price on shares of Canadian Imperial Bank of Commerce from C$143.00 to C$153.00 and gave the stock a “hold” rating in a research note on Thursday, August 13th. Finally, National Bank Financial set a C$180.00 target price on shares of Canadian Imperial Bank of Commerce and gave the company a “sector perform” rating in a report on Monday, August 24th. Five 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.com, the stock presently has an average rating of “Hold” and a consensus price target of C$167.71.
Canadian Imperial Bank of Commerce Price Performance
Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last announced its earnings results on Thursday, August 27th. The company reported C$2.73 EPS for the quarter. The business had revenue of C$8.37 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.
Canadian Imperial Bank of Commerce Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Tuesday, July 28th were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.28 annualized dividend and a yield of 2.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 40.12%.
Insiders Place Their Bets
In other Canadian Imperial Bank of Commerce 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 stock was 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 Stephen Alan Scholtz sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of C$162.70, for a total value of C$976,200.00. Over the last three months, insiders sold 17,776 shares of company stock worth $2,817,744. 0.02% of the stock is owned by corporate insiders.
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.
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