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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price raised by Royal Bank of Canada from C$103.00 to C$108.00 in a report published on Friday,BayStreet.CA reports.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group increased their price target on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. BMO Capital Markets increased 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. Scotiabank reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. UBS Group reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. Finally, National Bankshares increased their price objective on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and a consensus target price of C$93.50.

Canadian Imperial Bank of Commerce Trading Up 1.4 %

Shares of TSE:CM opened at C$87.67 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of C$63.20 and a 12 month high of C$95.50. The company has a 50-day moving average price of C$89.71 and a 200 day moving average price of C$85.86. The company has a market cap of C$82.02 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.43%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 47.55%.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, 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 shares were sold at an average price of C$94.97, for a total transaction of C$1,961,227.51. Also, Senior Officer Susan Rimmer sold 1,000 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$93.14, for a total transaction of C$93,140.00. Over the last three months, insiders have sold 177,012 shares of company stock valued at $16,687,218. 0.02% of the stock is currently owned by company insiders.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.