Canadian Imperial Bank of Commerce (TSE:CM) Receives C$96.23 Consensus Target Price from Brokerages

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$96.23.

Several research analysts have weighed in on CM shares. Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$100.00 to C$89.00 in a research report on Monday, April 21st. National Bankshares set a C$95.00 target price on Canadian Imperial Bank of Commerce and gave the company an “outperform” rating in a report on Thursday, May 22nd. National Bank Financial lowered Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 29th. Barclays boosted their target price on Canadian Imperial Bank of Commerce from C$90.00 to C$94.00 and gave the company an “underperform” rating in a research report on Monday, June 9th. Finally, Canaccord Genuity Group set a C$96.00 price objective on Canadian Imperial Bank of Commerce and gave the stock a “hold” rating in a report on Tuesday, June 24th.

Insiders Place Their Bets

In other news, Senior Officer Shawn Beber sold 3,151 shares of the firm’s stock in a transaction dated Thursday, June 19th. The stock was sold at an average price of C$94.61, for a total transaction of C$298,126.51. Also, Senior Officer Christina Charlotte Kramer sold 43,490 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of C$93.07, for a total value of C$4,047,614.30. Over the last ninety days, insiders have sold 105,837 shares of company stock worth $9,903,590. 0.02% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Trading Up 0.5%

TSE:CM opened at C$99.39 on Monday. Canadian Imperial Bank of Commerce has a 1-year low of C$67.01 and a 1-year high of C$100.58. The firm has a market capitalization of C$92.99 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 3.03 and a beta of 1.12. The business’s 50-day moving average price is C$94.60 and its two-hundred day moving average price is C$88.78.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Monday, July 28th will be given a $0.97 dividend. The ex-dividend date is Friday, June 27th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.90%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 47.55%.

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.