Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$94.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target hoisted by National Bankshares from C$86.00 to C$94.00 in a research report released on Wednesday morning,BayStreet.CA reports.

Several other research firms have also recently weighed in on CM. BMO Capital Markets boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. Jefferies Financial Group dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research report on Monday, August 12th. TD Securities boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research report on Friday, November 15th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from C$74.00 to C$90.00 in a research report on Friday, August 30th. Finally, Barclays lifted their target price on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$83.00.

Canadian Imperial Bank of Commerce Trading Up 0.4 %

TSE CM opened at C$91.48 on Wednesday. The stock’s 50 day moving average is C$85.69 and its two-hundred day moving average is C$74.58. The company has a market capitalization of C$86.45 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1-year low of C$51.60 and a 1-year high of C$91.63.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. The company had revenue of C$6.60 billion during the quarter, compared to analysts’ expectations of C$6.31 billion. On average, analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 52.10%.

Insiders Place Their Bets

In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total value of C$441,791.70. Also, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$83.40, for a total transaction of C$3,087,634.80. Insiders have sold 203,057 shares of company stock valued at $16,823,249 in the last three months. 0.02% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.