Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$139.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective raised by Desjardins from C$135.00 to C$139.00 in a research report report published on Monday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Jefferies Financial Group lifted their target price on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the company a “hold” rating in a research note on Tuesday, November 25th. National Bank Financial lifted their price objective on Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the company a “sector perform” rating in a research report on Friday, December 5th. TD Securities increased their target price on Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a report on Monday. Royal Bank Of Canada raised their target price on Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Finally, Scotiabank lifted their price target on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a report on Friday, January 9th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$128.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at C$131.59 on Monday. The stock’s fifty day simple moving average is C$127.37 and its 200 day simple moving average is C$116.69. Canadian Imperial Bank of Commerce has a one year low of C$76.17 and a one year high of C$133.80. The firm has a market cap of C$121.93 billion, a price-to-earnings ratio of 15.35, 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 quarterly earnings data on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%.The company had revenue of C$7.58 billion during the quarter. On average, research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Wednesday, January 28th were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, December 29th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 45.27%.

Insider Activity

In related news, insider Frank Guse sold 5,000 shares of the stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total value of C$635,800.00. Following the sale, the insider directly owned 1,359 shares of the company’s stock, valued at approximately C$172,810.44. This represents a 78.63% decrease in their position. 0.02% of the stock is owned by company insiders.

About Canadian Imperial Bank of Commerce

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.