Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$150.00 at BMO Capital Markets

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price lifted by BMO Capital Markets from C$135.00 to C$150.00 in a research note published on Friday,BayStreet.CA reports. BMO Capital Markets currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. Barclays raised Canadian Imperial Bank of Commerce from a “strong sell” rating to an “overweight” rating and raised their target price for the company from C$126.00 to C$137.00 in a report on Thursday, February 19th. Royal Bank Of Canada increased their price target on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the company an “outperform” rating in a report on Monday, January 5th. National Bank Financial boosted their price objective 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 report on Tuesday, February 17th. Desjardins upped their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Finally, Jefferies Financial Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a report on Wednesday, February 11th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus price target of C$146.05.

Canadian Imperial Bank of Commerce Stock Performance

CM traded down C$4.05 during trading on Friday, reaching C$137.79. The company’s stock had a trading volume of 3,974,085 shares, compared to its average volume of 2,616,844. The company’s fifty day moving average price is C$129.18 and its 200-day moving average price is C$119.47. Canadian Imperial Bank of Commerce has a 52-week low of C$76.17 and a 52-week high of C$143.80. The company has a market capitalization of C$127.68 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, February 26th. The company reported C$2.76 EPS for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%.The business had revenue of C$8.40 billion during the quarter. Equities analysts predict 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 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 represents a $4.28 annualized dividend and a dividend yield of 3.1%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Monday, December 29th. Canadian Imperial Bank of Commerce’s payout ratio is currently 45.27%.

Insider Activity

In related news, insider Frank Guse sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, 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 position. 0.02% of the stock is owned by corporate insiders.

Trending Headlines about Canadian Imperial Bank of Commerce

Here are the key news stories impacting Canadian Imperial Bank of Commerce this week:

• Positive Sentiment: TD Securities raised its price target to C$153 and kept a “Buy” rating (?11% upside versus the current price). BayStreet.CA
• Positive Sentiment: BMO Capital Markets bumped its target to C$150 and set an “Outperform” rating (?8.9% upside). BayStreet.CA
• Positive Sentiment: Royal Bank of Canada raised its target to C$158 and maintained an “Outperform” (?14.7% upside). BayStreet.CA
• Positive Sentiment: Scotiabank lifted its target to C$153 with an “Outperform” rating (?11% upside). BayStreet.CA TickerReport
• Neutral Sentiment: Raymond James raised its target to C$148.50 but retained a “Market Perform” rating (?7.8% upside). BayStreet.CA
• Neutral Sentiment: National Bank Financial increased its target to C$150 with a “Sector Perform” rating (?8.9% upside). BayStreet.CA
• Neutral Sentiment: Canaccord Genuity lifted its target to C$145 but kept a “Hold” rating (?5.2% upside). BayStreet.CA
• Neutral Sentiment: CM reported quarterly results: EPS C$2.76, revenue C$8.40B, ROE 12.61%, net margin 27.87% — solid fundamentals but no headline guidance change in the releases cited. MarketBeat Earnings

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.