Canadian Imperial Bank of Commerce (TSE:CM) Receives C$79.15 Consensus Target Price from Analysts

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$79.15.

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Monday, June 3rd. Scotiabank boosted their price objective on Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Canaccord Genuity Group boosted their price objective on Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a report on Tuesday, August 13th. Jefferies Financial Group cut their price objective on Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Barclays boosted their price objective on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a report on Friday, August 30th.

Canadian Imperial Bank of Commerce Stock Up 0.8 %

TSE:CM opened at C$83.63 on Tuesday. Canadian Imperial Bank of Commerce has a 52 week low of C$47.44 and a 52 week high of C$84.07. The company has a market capitalization of C$78.99 billion, a P/E ratio of 12.10, a P/E/G ratio of 3.01 and a beta of 1.12. The stock’s fifty day moving average is C$73.94 and its two-hundred day moving average is C$69.10.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, October 28th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 annualized dividend and a yield of 4.30%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 52.10%.

Insiders Place Their Bets

In other news, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$83.40, for a total transaction of C$3,087,634.80. In other news, Director Harry Kenneth Culham sold 50,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$81.87, for a total transaction of C$4,093,500.00. Also, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$83.40, for a total value of C$3,087,634.80. Insiders have sold a total of 170,790 shares of company stock worth $13,769,695 in the last quarter. 0.02% of the stock is owned by company insiders.

About Canadian Imperial Bank of Commerce

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.