Canadian Imperial Bank of Commerce (TSE:CM) Releases Quarterly Earnings Results

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) posted its earnings results on Thursday. The company reported C$2.76 EPS for the quarter, FiscalAI reports. The firm had revenue of C$8.40 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%.

Canadian Imperial Bank of Commerce Price Performance

CM opened at C$141.84 on Friday. The stock’s 50 day moving average price is C$128.99 and its 200 day moving average price is C$119.21. Canadian Imperial Bank of Commerce has a 12 month low of C$76.17 and a 12 month high of C$143.80. The stock 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.

Canadian Imperial Bank of Commerce Increases Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on CM. BMO Capital Markets boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research note on Wednesday, December 17th. Jefferies Financial Group upped their target price on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research report on Wednesday, February 11th. National Bank Financial lifted their target price on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$131.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th. Canaccord Genuity Group boosted their target price on shares of Canadian Imperial Bank of Commerce from C$129.00 to C$136.00 and gave the company a “hold” rating in a report on Thursday, February 12th. Finally, Raymond James Financial lifted their price target on shares of Canadian Imperial Bank of Commerce from C$122.00 to C$135.00 and gave the company a “market perform” rating in a research report on Tuesday, February 17th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$135.40.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, insider Frank Guse sold 5,000 shares of the company’s stock in a transaction on 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 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. Company 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.