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 earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$95.08.

A number of brokerages recently weighed in on CM. Cormark increased their price objective on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research report on Friday, December 6th. UBS Group increased their price objective on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research note on Monday, December 16th. 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 note on Monday, November 18th. Scotiabank increased their price objective 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, Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$97.00 to C$103.00 in a research note on Wednesday, January 8th.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE CM opened at C$88.05 on Friday. The firm’s 50 day moving average price is C$91.17 and its 200-day moving average price is C$84.40. The company has a market cap of C$82.38 billion, a PE ratio of 11.63, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52-week low of C$60.48 and a 52-week high of C$95.50.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were paid a dividend of $0.97 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. This represents a $3.88 annualized dividend and a yield of 4.41%. The ex-dividend date was Friday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 47.55%.

Insiders Place Their Bets

In other news, Senior Officer Susan Rimmer sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of C$93.14, for a total transaction of C$93,140.00. Also, Director Victor George Dodig sold 150,000 shares of the company’s 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. Insiders have sold 177,012 shares of company stock valued at $16,687,218 over the last ninety days. 0.02% of the stock is owned by insiders.

Canadian Imperial Bank of Commerce Company Profile

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.