Canadian Imperial Bank of Commerce (TSE:CM) Price Target Cut to C$96.00 by Analysts at UBS Group

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price trimmed by UBS Group from C$102.00 to C$96.00 in a report published on Friday morning,BayStreet.CA reports.

Other equities analysts have also recently issued research reports about the stock. Scotiabank increased their price objective on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research note on Friday, December 6th. Canaccord Genuity Group increased their price target on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. TD Securities lifted their price objective on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$97.00 to C$103.00 in a report on Wednesday, January 8th. Finally, Cormark boosted their price target on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and an average target price of C$94.58.

Canadian Imperial Bank of Commerce Trading Down 0.0 %

CM opened at C$88.01 on Friday. The stock’s 50 day simple moving average is C$91.14 and its 200-day simple moving average is C$84.54. The stock has a market cap of C$82.34 billion, a PE ratio of 11.62, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1 year low of C$60.95 and a 1 year high of C$95.50.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 27th were given a dividend of $0.97 per share. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, December 27th. This represents a $3.88 annualized dividend and a yield of 4.41%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 47.55%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Senior Officer Robert Sedran sold 20,652 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of C$94.97, for a total transaction of C$1,961,227.51. Also, Director Victor George Dodig sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of C$94.22, for a total value of C$14,132,865.00. In the last 90 days, insiders sold 177,012 shares of company stock worth $16,687,218. 0.02% of the stock is currently owned by corporate insiders.

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.