Canadian Imperial Bank of Commerce (TSE:CM) Given Consensus 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%.

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM have earned a consensus rating of "Moderate Buy" from the twelve ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given 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 target among brokers that have updated their coverage on the stock in the last year is C$96.23.

CM has been the subject of a number of research analyst reports. Barclays increased their target price 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 report on Monday, June 9th. Canaccord Genuity Group set a C$96.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company a "hold" rating in a report on Tuesday, June 24th. Royal Bank Of Canada cut their target price on Canadian Imperial Bank of Commerce from C$116.00 to C$112.00 and set an "outperform" rating on the stock in a research report on Monday, June 9th. Scotiabank upgraded shares of Canadian Imperial Bank of Commerce to a "strong-buy" rating in a report on Thursday, May 15th. Finally, National Bankshares set a C$95.00 target price on shares of Canadian Imperial Bank of Commerce and gave the company an "outperform" rating in a report on Thursday, May 22nd.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

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

Canadian Imperial Bank of Commerce Trading Up 0.3%

Shares of CM traded up C$0.33 during mid-day trading on Friday, hitting C$100.28. 254,359 shares of the company's stock were exchanged, compared to its average volume of 3,669,985. The firm has a market capitalization of C$93.82 billion, a P/E ratio of 13.24, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a fifty-two week low of C$69.39 and a fifty-two week high of C$102.02. The business's 50 day moving average is C$97.30 and its two-hundred day moving average is C$89.90.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Monday, July 28th were given a dividend of $0.97 per share. 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 dividend 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.