Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Michelle Lynn Collins purchased 1,186 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was acquired at an average price of C$84.30 per share, with a total value of C$99,979.80.

Shares of Canadian Imperial Bank of Commerce (TSE CM) opened at 104.54 on Wednesday. Canadian Imperial Bank of Commerce has a 12-month low of $97.52 and a 12-month high of $120.83. The company has a market capitalization of $45.57 billion and a price-to-earnings ratio of 9.50. The company’s 50-day moving average is $107.49 and its 200-day moving average is $110.63.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, August 24th. The company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.14. Canadian Imperial Bank of Commerce had a return on equity of 17.23% and a net margin of 28.39%. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Analysts predict that Canadian Imperial Bank of Commerce will post $10.91 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, September 28th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.97%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.27.

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Several research firms have recently weighed in on CM. Canaccord Genuity reiterated a “buy” rating and set a C$116.00 price objective on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 25th. BMO Capital Markets restated a “market perform” rating and issued a C$118.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 25th. Barclays PLC raised their price target on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$110.00 in a report on Friday, August 11th. National Bank Financial dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$125.00 and set an “outperform” rating on the stock in a research note on Friday, May 26th. Finally, Scotiabank dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$118.00 and set a “sector perform” rating on the stock in a research note on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of C$118.45.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada and internationally. It operates through three business units: Retail and Business Banking, Wealth Management, and Capital Markets.

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