Analysts Set Canadian Imperial Bank of Commerce (TSE:CM) Price Target at C$135.40

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and five have given 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$135.40.

A number of brokerages have commented on CM. TD Securities boosted their target price on shares of Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a report on Monday, February 9th. Raymond James Financial lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$122.00 to C$135.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 17th. Desjardins increased their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a research report on Monday, February 9th. BMO Capital Markets raised their target price on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research note on Wednesday, December 17th. Finally, Jefferies Financial Group upped their price target on Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research report on Wednesday, February 11th.

Canadian Imperial Bank of Commerce Stock Up 2.9%

Canadian Imperial Bank of Commerce stock opened at C$141.84 on Tuesday. The firm has a market cap of C$131.43 billion, a P/E ratio of 16.55, a P/E/G ratio of 3.03 and a beta of 1.26. The business has a fifty day moving average of C$128.99 and a two-hundred day moving average of C$119.21. Canadian Imperial Bank of Commerce has a twelve month low of C$76.17 and a twelve month high of C$143.80.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, February 26th. The company reported C$2.76 earnings per share (EPS) for the quarter. The business had revenue of C$8.40 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%. Equities analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Wednesday, January 28th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $4.28 annualized dividend and a yield of 3.0%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.27%.

Insiders Place Their Bets

In other Canadian Imperial Bank of Commerce news, insider Frank Guse sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total value of C$635,800.00. Following the completion of the sale, the insider owned 1,359 shares of the company’s stock, valued at approximately C$172,810.44. This trade represents a 78.63% decrease in their ownership of the stock. Corporate insiders own 0.02% of the company’s stock.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.