Brokerages Set Canadian Imperial Bank of Commerce (TSE:CM) Target Price at C$94.31

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM have been assigned an average recommendation of "Moderate Buy" from the eleven analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$94.31.

Several equities research analysts have weighed in on the company. Canaccord Genuity Group cut their price target on Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a research report on Monday, May 12th. Scotiabank raised Canadian Imperial Bank of Commerce to a "strong-buy" rating in a research report on Thursday, May 15th. Royal Bank of Canada set a C$108.00 price target on Canadian Imperial Bank of Commerce and gave the stock an "outperform" rating in a research report on Monday, March 17th. UBS Group lowered their target price on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research note on Friday, February 14th. Finally, National Bankshares set a C$95.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock an "outperform" rating in a research note on Thursday, May 22nd.

Insiders Place Their Bets

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

Canadian Imperial Bank of Commerce Trading Down 0.3%

CM traded down C$0.28 during midday trading on Friday, hitting C$93.71. 3,015,347 shares of the company were exchanged, compared to its average volume of 3,920,219. The company's 50 day simple moving average is C$85.70 and its 200 day simple moving average is C$87.80. The firm has a market capitalization of C$87.67 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1-year low of C$64.47 and a 1-year high of C$96.45.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 4.14%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 47.55%.

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.