Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$136.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective increased by Canaccord Genuity Group from C$129.00 to C$136.00 in a research report sent to investors on Thursday,BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. National Bank Financial boosted their target price on shares of Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the company a “sector perform” rating in a research report on Friday, December 5th. Jefferies Financial Group upped their target price on Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research note on Wednesday. TD Securities boosted their target price on Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research note on Monday, February 9th. Desjardins increased their price target on Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Finally, Raymond James Financial boosted their price target on Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the stock a “market perform” rating in a report on Friday, December 5th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average price target of C$133.70.

Canadian Imperial Bank of Commerce Stock Up 0.6%

CM opened at C$130.51 on Thursday. Canadian Imperial Bank of Commerce has a 12-month low of C$76.17 and a 12-month high of C$133.80. The business has a 50 day moving average of C$127.53 and a 200-day moving average of C$117.10. The stock has a market cap of C$120.93 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 3.03 and a beta of 1.26.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. The business had revenue of C$7.58 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%. As a group, 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 business also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th were issued a $1.07 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 45.27%.

Insiders Place Their Bets

In other news, insider Frank Guse sold 5,000 shares of the 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 transaction, the insider directly owned 1,359 shares of the company’s stock, valued at approximately C$172,810.44. This represents a 78.63% decrease in their ownership of the stock. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

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.