Canadian Imperial Bank of Commerce (TSE:CM) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat.com reports. One research 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. The average 1 year price target among brokers that have covered the stock in the last year is C$95.08.

Several research analysts have weighed in on the company. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. Scotiabank upped their price target on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research report on Friday, December 6th. UBS Group lifted 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. Canaccord Genuity Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research note on Friday, December 6th. Finally, Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$97.00 to C$103.00 in a research note on Wednesday, January 8th.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Director Victor George Dodig sold 150,000 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of C$94.22, for a total value of C$14,132,865.00. Also, Senior Officer Robert Sedran sold 20,652 shares of the 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. Insiders have sold a total of 177,012 shares of company stock valued at $16,687,218 in the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Stock Performance

TSE:CM opened at C$91.20 on Monday. Canadian Imperial Bank of Commerce has a 52-week low of C$59.53 and a 52-week high of C$95.50. The company has a market cap of C$86.18 billion, a P/E ratio of 13.20, a P/E/G ratio of 3.03 and a beta of 1.12. The stock’s 50-day simple moving average is C$91.34 and its 200 day simple moving average is C$82.15.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a $0.97 dividend. The ex-dividend date is Friday, December 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. This represents a $3.88 annualized dividend and a yield of 4.25%. Canadian Imperial Bank of Commerce’s payout ratio is 52.10%.

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.