Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$99.00 at BMO Capital Markets

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective hoisted by BMO Capital Markets from C$81.00 to C$99.00 in a research report released on Monday morning,BayStreet.CA reports.

CM has been the subject of a number of other reports. Royal Bank of Canada lifted their target price on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. Desjardins upped their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Jefferies Financial Group cut their target price on 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. Canaccord Genuity Group increased their price objective on Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research report on Tuesday, August 13th. Finally, Barclays increased their target price 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$83.00.

Canadian Imperial Bank of Commerce Trading Up 1.0 %

Shares of Canadian Imperial Bank of Commerce stock opened at C$90.72 on Monday. Canadian Imperial Bank of Commerce has a twelve month low of C$51.60 and a twelve month high of C$90.73. The stock has a market capitalization of C$85.73 billion, a P/E ratio of 13.13, a PEG ratio of 3.03 and a beta of 1.12. The business’s fifty day moving average price is C$85.26 and its 200 day moving average price is C$74.28.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, beating the consensus estimate of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. The company had revenue of C$6.60 billion for the quarter, compared to analyst estimates of C$6.31 billion. As a group, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were given a $0.90 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.60 annualized dividend and a yield of 3.97%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.10%.

Insiders Place Their Bets

In other news, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the business’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. Also, 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 transaction of C$441,791.70. 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.

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.