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 earned a consensus recommendation of "Moderate Buy" from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$94.31.

Several research firms recently issued reports on CM. Scotiabank raised Canadian Imperial Bank of Commerce to a "strong-buy" rating in a research note on Thursday, May 15th. Canaccord Genuity Group decreased their target price on Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a research note on Monday, May 12th. Royal Bank of Canada set a C$108.00 target price on Canadian Imperial Bank of Commerce and gave the stock an "outperform" rating in a research note on Monday, March 17th. National Bankshares set a C$95.00 target price on Canadian Imperial Bank of Commerce and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, TD Securities decreased their target price on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a "buy" rating on the stock in a research note on Friday, February 28th.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE CM traded up C$0.63 during mid-day trading on Friday, reaching C$94.55. 4,721,235 shares of the company's stock were exchanged, compared to its average volume of 3,938,606. The firm has a market capitalization of C$88.46 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52-week low of C$64.47 and a 52-week high of C$95.50. The company's 50-day moving average is C$84.96 and its 200-day moving average is C$87.70.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, March 28th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Friday, March 28th. Canadian Imperial Bank of Commerce's dividend 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 firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of C$81.27, for a total transaction of C$83,464.29. 0.02% of the stock is owned by corporate insiders.

Canadian Imperial Bank of Commerce Company Profile

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.