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

Canadian Imperial Bank of Commerce (TSE:CMGet Free Report) (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.

Read Our Latest Stock Report on CM

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

(Get Free Report

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.

Further Reading

Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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