Canadian Imperial Bank of Commerce (TSE:CM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$152.86.

Several research firms recently issued reports on CM. Desjardins lifted their price objective on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Jefferies Financial Group upped their target price on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research note on Wednesday, May 20th. Royal Bank Of Canada dropped their price target on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. National Bank Financial boosted their price objective on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a report on Friday, May 15th. Finally, Scotiabank upped their price objective on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 16th.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, insider Christopher John Anderson sold 8,490 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the transaction, the insider owned 6,252 shares in the company, valued at C$972,186. The trade was a 57.59% decrease in their position. Also, insider Stephen Alan Scholtz sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of C$162.70, for a total value of C$976,200.00. In the last 90 days, insiders have sold 17,776 shares of company stock valued at $2,817,744. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

TSE CM opened at C$161.76 on Monday. The company has a market cap of C$147.65 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 3.03 and a beta of 1.42. Canadian Imperial Bank of Commerce has a 52 week low of C$97.31 and a 52 week high of C$165.00. The firm’s 50-day simple moving average is C$155.46 and its two-hundred day simple moving average is C$140.52.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. The firm had revenue of C$8.01 billion during the quarter. As a group, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 28th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 annualized dividend and a yield of 2.6%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 40.48%.

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.