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

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$93.50.

Several equities analysts have recently commented on CM shares. TD Securities lowered their price objective on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. UBS Group lowered their price target on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. Canaccord Genuity Group increased their price objective on shares of 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 shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. Finally, Scotiabank cut their target price on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th.

Canadian Imperial Bank of Commerce Stock Performance

CM opened at C$80.66 on Friday. The stock has a market cap of C$75.46 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The firm’s fifty day moving average is C$85.16 and its 200 day moving average is C$87.28. Canadian Imperial Bank of Commerce has a fifty-two week low of C$64.02 and a fifty-two week high of C$95.50.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 4.81%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 47.55%.

Insider Buying and Selling

In related news, Senior Officer Sandy Sharman sold 1,027 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of C$81.27, for a total value of C$83,464.29. 0.02% of the stock is currently owned by company 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.