Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$98.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective boosted by TD Securities from C$91.00 to C$98.00 in a research note issued to investors on Friday,BayStreet.CA reports.

CM has been the topic of a number of other research reports. Cormark upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and increased their target price for the stock from C$75.00 to C$83.00 in a research note on Friday, August 30th. Barclays boosted their target price on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research report on Friday, August 30th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from C$74.00 to C$90.00 in a research note on Friday, August 30th. Canaccord Genuity Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research report on Tuesday, August 13th. Finally, National Bankshares lifted their price target on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and an average target price of C$79.69.

Canadian Imperial Bank of Commerce Trading Down 0.4 %

TSE:CM opened at C$89.50 on Friday. The firm has a fifty day simple moving average of C$84.81 and a 200 day simple moving average of C$73.93. Canadian Imperial Bank of Commerce has a 1-year low of C$51.60 and a 1-year high of C$90.57. The stock has a market capitalization of C$84.57 billion, a PE ratio of 12.95, a P/E/G ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, topping analysts’ consensus estimates of C$1.75 by C$0.18. The business had revenue of C$6.60 billion during the quarter, compared to analysts’ expectations of C$6.31 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. On average, equities analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 4.02%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 52.10%.

Insider Buying and Selling

In related news, Senior Officer Sandy Sharman sold 2,275 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$83.04, for a total transaction of C$188,916.00. Also, Director Harry Kenneth Culham sold 800 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of C$83.20, for a total transaction of C$66,560.00. Insiders have sold a total of 203,057 shares of company stock valued at $16,823,249 over the last 90 days. 0.02% of the stock is owned by insiders.

Canadian Imperial Bank of Commerce Company Profile

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.