Canadian Imperial Bank of Commerce (TSE:CM) Given New C$108.00 Price Target at Scotiabank

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective hoisted by Scotiabank from C$85.00 to C$108.00 in a research report released on Monday morning,BayStreet.CA reports.

CM has been the topic of several other research reports. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and lifted their target price for the stock from C$74.00 to C$90.00 in a research note on Friday, August 30th. TD Securities upped their price objective on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research note on Friday, November 15th. Royal Bank of Canada increased their price objective on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. Desjardins boosted 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 report on Friday, August 30th. Finally, Canaccord Genuity Group increased their price target on Canadian Imperial Bank of Commerce from C$81.00 to C$92.00 in a report on Tuesday, November 19th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$87.17.

Canadian Imperial Bank of Commerce Stock Down 0.1 %

CM opened at C$91.42 on Monday. Canadian Imperial Bank of Commerce has a twelve month low of C$51.60 and a twelve month high of C$92.17. The company has a market cap of C$86.39 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The company has a 50-day moving average price of C$85.87 and a 200 day moving average price of C$74.84.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.18. The business had revenue of C$6.60 billion during the quarter, compared to analysts’ expectations of C$6.31 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. As a group, sell-side analysts expect 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 declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.10%.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Director Harry Kenneth Culham sold 50,000 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$81.87, for a total value of C$4,093,500.00. Also, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total transaction of C$441,791.70. In the last three months, insiders have sold 203,057 shares of company stock worth $16,823,249. 0.02% of the stock is currently owned by 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.