Canadian Imperial Bank of Commerce (TSE:CM) Stock Has Average Price Target of C$167.79

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been assigned an average recommendation of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$167.79.

Several equities analysts have issued reports on CM shares. National Bank Financial set a C$180.00 price objective on Canadian Imperial Bank of Commerce and gave the company a “sector perform” rating in a research report on Monday, August 24th. TD boosted their price objective on Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Scotiabank boosted their price objective on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a “sector perform” rating in a research note on Tuesday, June 16th. Jefferies Financial Group increased their target price on Canadian Imperial Bank of Commerce from C$153.00 to C$154.00 in a report on Thursday, September 3rd. Finally, Barclays increased their target price on Canadian Imperial Bank of Commerce from C$144.00 to C$170.00 in a report on Friday, August 21st.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, insider Amy Florence South sold 4,218 shares of the stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of C$161.41, for a total transaction of C$680,827.38. 0.02% of the stock is currently owned by company insiders.

Canadian Imperial Bank of Commerce Trading Up 1.8%

TSE:CM opened at C$158.44 on Wednesday. Canadian Imperial Bank of Commerce has a 1 year low of C$111.45 and a 1 year high of C$172.87. The firm has a 50 day moving average of C$160.94 and a 200-day moving average of C$156.84. The stock has a market capitalization of C$143.85 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 3.03 and a beta of 1.32.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, August 27th. The company reported C$2.73 EPS for the quarter. The business had revenue of C$8.37 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%. As a group, analysts forecast that Canadian Imperial Bank of Commerce will post 6.41 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 28th will be given a dividend of $1.07 per share. The ex-dividend date is Monday, September 28th. This represents a $4.28 annualized dividend and a yield of 2.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 40.12%.

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.