Canadian Imperial Bank of Commerce (TSE:CM) Receives C$93.50 Consensus Target Price from Brokerages

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has earned an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$93.50.

Several brokerages recently issued reports on CM. Royal Bank of Canada set a C$108.00 price objective on Canadian Imperial Bank of Commerce and gave the stock an “outperform” rating in a research note on Monday. BMO Capital Markets increased their price objective on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. National Bankshares increased their price objective on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. Canaccord Genuity Group increased their target price on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. Finally, Scotiabank dropped their target price on Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th.

Canadian Imperial Bank of Commerce Stock Up 1.2 %

Shares of TSE:CM opened at C$81.71 on Tuesday. Canadian Imperial Bank of Commerce has a 52-week low of C$64.02 and a 52-week high of C$95.50. The stock has a market cap of C$76.45 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The business’s 50 day moving average is C$87.58 and its 200 day moving average is C$86.74.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Monday, April 28th will be given a $0.97 dividend. The ex-dividend date is Friday, March 28th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.75%. Canadian Imperial Bank of Commerce’s payout ratio is 47.55%.

Insider Transactions at Canadian Imperial Bank of Commerce

In other news, Senior Officer Susan Rimmer sold 1,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of C$93.14, for a total value of C$93,140.00. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.