Canadian Imperial Bank of Commerce (TSE:CM) Given Average Recommendation of "Moderate Buy" by Analysts

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM has received an average recommendation of "Moderate Buy" from the eleven research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on 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 research analysts have recently commented on the company. National Bankshares set a C$95.00 price objective on Canadian Imperial Bank of Commerce and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Canaccord Genuity Group reduced their target price on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a report on Monday, May 12th. Royal Bank of Canada set a C$108.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company an "outperform" rating in a report on Monday, March 17th. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and dropped their price target for the stock from C$100.00 to C$89.00 in a research report on Monday, April 21st. Finally, TD Securities decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a "buy" rating on the stock in a research report on Friday, February 28th.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Senior Officer Sandy Sharman sold 1,027 shares of the company's stock in a transaction 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. Insiders own 0.02% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of TSE:CM traded down C$0.18 during midday trading on Friday, hitting C$94.37. The company had a trading volume of 910,789 shares, compared to its average volume of 3,908,316. Canadian Imperial Bank of Commerce has a 12-month low of C$64.47 and a 12-month high of C$95.50. The company has a fifty day moving average of C$85.23 and a two-hundred day moving average of C$87.73. The company has a market cap of C$88.29 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 3.03 and a beta of 1.12.

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 paid a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Friday, March 28th. Canadian Imperial Bank of Commerce's payout ratio is currently 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.