Royal Bank of Canada set a C$108.00 price target on Canadian Imperial Bank of Commerce (TSE:CM – Free Report) (NYSE:CM) in a research report released on Monday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.
A number of other equities analysts also recently issued reports on CM. Cormark upped their price target on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research report on Friday, December 6th. Scotiabank reduced their price target on 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. BMO Capital Markets upped 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. TD Securities reduced their price target 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. Finally, National Bankshares upped their price target on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$93.50.
View Our Latest Analysis on CM
Canadian Imperial Bank of Commerce Stock Up 1.2 %
Canadian Imperial Bank of Commerce Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Monday, April 28th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is 47.55%.
Insider Buying and Selling at Canadian Imperial Bank of Commerce
In other Canadian Imperial Bank of Commerce news, Senior Officer Susan Rimmer sold 1,000 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of C$93.14, for a total value of C$93,140.00. 0.02% of the stock is owned by corporate 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.
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