Canadian Imperial Bank of Commerce (TSE:CM) Receives C$160.95 Consensus Target Price from Analysts

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have earned a consensus rating of “Hold” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is C$165.46.

A number of research firms have commented on CM. TD lifted their target price on shares of Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Keefe, Bruyette & Woods set a C$186.00 price target on Canadian Imperial Bank of Commerce and gave the company a “market perform” rating in a research note on Friday. Desjardins lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and raised their price target for the stock from C$160.00 to C$173.00 in a research report on Wednesday, August 5th. National Bank Financial set a C$180.00 price target on Canadian Imperial Bank of Commerce and gave the stock a “sector perform” rating in a research report on Monday. Finally, Jefferies Financial Group lifted their price objective on Canadian Imperial Bank of Commerce from C$143.00 to C$153.00 and gave the stock a “hold” rating in a research note on Thursday, August 13th.

Canadian Imperial Bank of Commerce Trading Down 0.7%

Shares of TSE CM opened at C$159.26 on Tuesday. The firm has a market capitalization of C$145.37 billion, a PE ratio of 15.80, 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$172.87. The firm’s 50-day moving average is C$164.70 and its 200-day moving average is C$150.45.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued 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 company had revenue of C$8.01 billion during the quarter. As a group, equities research analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 28th were issued a dividend of $1.07 per share. The ex-dividend date was Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 2.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 40.48%.

Insiders Place Their Bets

In other news, insider Stephen Alan Scholtz sold 6,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total transaction of C$976,200.00. Also, insider Christopher John Anderson sold 8,490 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$155.50, for a total value of C$1,320,195.00. Following the transaction, the insider owned 6,252 shares of the company’s stock, valued at C$972,186. The trade was a 57.59% decrease in their ownership of the stock. Over the last quarter, insiders have sold 17,776 shares of company stock worth $2,817,744. 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.