Brokerages Set Canadian Imperial Bank of Commerce (TSE:CM) PT at C$92.67

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has earned an average rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$92.67.

Several research firms recently commented 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. Canaccord Genuity Group increased their price objective on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. Cormark boosted their target price on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th. Scotiabank raised their price target on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research note on Friday, December 6th. Finally, UBS Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research report on Monday, December 16th.

Canadian Imperial Bank of Commerce Stock Performance

TSE CM opened at C$90.65 on Thursday. The business has a 50 day simple moving average of C$90.27 and a 200 day simple moving average of C$78.96. 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 market cap of C$85.66 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Increases Dividend

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

Insider Buying and Selling

In other news, Director Victor George Dodig sold 150,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of C$94.22, for a total transaction of C$14,132,865.00. Also, Senior Officer Robert Sedran sold 20,652 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$94.97, for a total value of C$1,961,227.51. In the last three months, insiders have sold 177,812 shares of company stock valued at $16,753,778. 0.02% of the stock is owned by 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.