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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$95.08.

Several analysts recently issued reports on the stock. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$97.00 to C$103.00 in a research report on Wednesday, January 8th. TD Securities boosted their price target on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. BMO Capital Markets upped 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. National Bankshares boosted their price objective on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. Finally, Canaccord Genuity Group boosted their target price on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research note on Friday, December 6th.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at C$90.66 on Monday. The stock has a market capitalization of C$85.67 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52 week low of C$59.53 and a 52 week high of C$95.50. The stock has a 50 day moving average price of C$91.22 and a two-hundred day moving average price of C$81.45.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a $0.97 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. This represents a $3.88 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.10%.

Insider Activity

In related news, Director Victor George Dodig sold 150,000 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of C$94.22, for a total value of C$14,132,865.00. Also, Senior Officer Susan Rimmer sold 1,000 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of C$93.14, for a total value of C$93,140.00. In the last 90 days, insiders have sold 177,012 shares of company stock worth $16,687,218. Corporate insiders own 0.02% of the company’s stock.

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.