Canadian Imperial Bank of Commerce (TSE:CM) Cut to Sector Perform at National Bank Financial

National Bank Financial lowered shares of Canadian Imperial Bank of Commerce (TSE:CM - Free Report) NYSE: CM from an outperform rating to a sector perform rating in a research report released on Thursday morning, MarketBeat reports.

A number of other equities analysts have also commented on CM. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and decreased their price objective for the stock from C$100.00 to C$89.00 in a research note on Monday, April 21st. Royal Bank of Canada set a C$108.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the stock an "outperform" rating in a research note on Monday, March 17th. TD Securities decreased their price target on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a "buy" rating for the company in a report on Friday, February 28th. National Bankshares set a C$95.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group decreased their price target on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$94.31.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE CM traded down C$0.59 during trading on Thursday, hitting C$92.84. The company had a trading volume of 2,691,854 shares, compared to its average volume of 3,915,722. Canadian Imperial Bank of Commerce has a 52 week low of C$64.63 and a 52 week high of C$96.45. The business's 50-day moving average is C$85.91 and its 200 day moving average is C$87.81. The company has a market cap of C$86.86 billion, a P/E ratio of 12.26, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 4.18%. Canadian Imperial Bank of Commerce's payout ratio is currently 47.55%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Senior Officer Sandy Sharman sold 1,027 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of C$81.27, for a total value of C$83,464.29. Insiders own 0.02% of the company's stock.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada's fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.