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

Key Points

• Analysts have given Canadian Imperial Bank of Commerce (TSE:CM) an average recommendation of "Moderate Buy", with 7 buy ratings, 3 holds, and 1 sell recommendation.
• The average 1-year price target among analysts is C$96.23, with targets from various institutions ranging from C$89.00 to C$116.00.
• Canadian Imperial Bank of Commerce recently declared a quarterly dividend of $0.97, representing an annualized dividend yield of 3.9%.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM has earned an average rating of "Moderate Buy" from the twelve brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three 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 objective among analysts that have covered the stock in the last year is C$96.23.

Several research analysts have recently issued reports on CM shares. Royal Bank Of Canada decreased their target price on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$112.00 and set an "outperform" rating on the stock in a research note on Monday, June 9th. National Bankshares set a C$95.00 price target on Canadian Imperial Bank of Commerce and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Canaccord Genuity Group set a C$96.00 price objective on Canadian Imperial Bank of Commerce and gave the stock a "hold" rating in a research report on Tuesday, June 24th. Jefferies Financial Group lowered 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 note on Monday, April 21st. Finally, Barclays boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$90.00 to C$94.00 and gave the company an "underperform" rating in a research report on Monday, June 9th.

Insider Buying and Selling

In other news, Senior Officer Christina Charlotte Kramer sold 43,490 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of C$93.07, for a total value of C$4,047,614.30. Also, Senior Officer Shawn Beber sold 3,151 shares of the company's stock in a transaction dated Thursday, June 19th. The stock was sold at an average price of C$94.61, for a total transaction of C$298,126.51. Over the last quarter, insiders have sold 105,837 shares of company stock worth $9,903,590. 0.02% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at C$99.00 on Friday. The business has a 50-day moving average of C$97.16 and a 200 day moving average of C$89.86. Canadian Imperial Bank of Commerce has a 1-year low of C$68.56 and a 1-year high of C$102.02. The stock has a market capitalization of C$92.62 billion, a PE ratio of 13.08, a P/E/G 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, July 28th. Stockholders of record on Monday, July 28th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, June 27th. 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.

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