Canadian Imperial Bank of Commerce (TSE:CM) Given Consensus Rating of “Moderate Buy” by Brokerages

Canadian Imperial Bank of Commerce (TSE:CMGet Free Report) (NYSE:CM) has been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$79.15.

CM has been the topic of several research analyst reports. TD Securities lowered their target price on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Cormark raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and increased their price objective for the company from C$75.00 to C$83.00 in a report on Friday, August 30th. UBS Group set a C$70.00 price objective on Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and boosted their target price for the stock from C$74.00 to C$90.00 in a research report on Friday, August 30th. Finally, Desjardins raised their price target on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a report on Friday, August 30th.

Get Our Latest Report on Canadian Imperial Bank of Commerce

Insider Activity at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total value of C$441,791.70. In related news, Senior Officer Shawn Beber sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of C$81.80, for a total value of C$817,960.00. Also, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total value of C$441,791.70. In the last ninety days, insiders have sold 203,057 shares of company stock worth $16,823,249. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 2.4 %

TSE:CM opened at C$83.88 on Friday. The business’s 50-day simple moving average is C$77.61 and its two-hundred day simple moving average is C$70.62. Canadian Imperial Bank of Commerce has a 52 week low of C$47.44 and a 52 week high of C$84.46. The stock has a market cap of C$79.26 billion, a PE ratio of 12.14, a P/E/G ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CMGet Free Report) (NYSE:CM) last issued its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. The company had revenue of C$6.60 billion for the quarter, compared to the consensus estimate of C$6.31 billion. Sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 7.5827138 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.29%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.10%.

Canadian Imperial Bank of Commerce Company Profile

(Get Free Report

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Further Reading

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

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