Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$173.50

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target hoisted by Raymond James Financial from C$155.50 to C$173.50 in a research report report published on Wednesday,BayStreet.CA reports. They currently have a market perform rating on the stock.

Several other research firms have also recently issued reports on CM. TD raised their target price 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. Desjardins downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and lifted their target price for the company from C$160.00 to C$173.00 in a research report on Wednesday, August 5th. National Bank Financial upped their price target on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a research note on Friday, May 15th. Canaccord Genuity Group increased their price target on Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. Finally, Jefferies Financial Group raised their price objective on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research report on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$160.95.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at C$171.76 on Wednesday. The firm has a 50 day simple moving average of C$163.75 and a 200-day simple moving average of C$148.76. The stock has a market cap of C$156.78 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 3.03 and a beta of 1.40. Canadian Imperial Bank of Commerce has a 1-year low of C$100.43 and a 1-year high of C$171.76.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. The firm had revenue of C$8.01 billion for the quarter. Equities analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Tuesday, July 28th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.5%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 40.48%.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, insider Amy Florence South sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of C$160.92, for a total value of C$193,104.00. Also, insider Stephen Alan Scholtz sold 6,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total value of C$976,200.00. In the last quarter, insiders sold 17,776 shares of company stock valued at $2,817,744. Company 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.