Canadian Imperial Bank of Commerce (TSE:CM) Receives C$126.09 Consensus PT from Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received a consensus rating of “Hold” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$126.09.

A number of research firms have issued reports on CM. Raymond James Financial boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the company a “market perform” rating in a research report on Friday, December 5th. Jefferies Financial Group boosted their price target on Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the company a “hold” rating in a report on Tuesday, November 25th. Barclays increased their price objective on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a report on Monday, December 8th. TD Securities lifted their price objective on Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Finally, BMO Capital Markets boosted their target price on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research note on Wednesday, December 17th.

Insiders Place Their Bets

In related news, insider Frank Guse sold 5,000 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the sale, the insider directly owned 1,359 shares in the company, valued at C$172,810.44. The trade was a 78.63% decrease in their ownership of the stock. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at C$129.43 on Friday. The business has a 50-day moving average of C$126.05 and a 200 day moving average of C$115.51. Canadian Imperial Bank of Commerce has a 1-year low of C$76.17 and a 1-year high of C$130.50. The stock has a market capitalization of C$119.93 billion, a PE ratio of 15.10, a P/E/G ratio of 3.03 and a beta of 1.26.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. The firm had revenue of C$7.58 billion for the quarter. Analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 28th were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, December 29th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s payout ratio is presently 45.27%.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.