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

Key Points

• Canadian Imperial Bank of Commerce has a consensus analyst rating of “Moderate Buy”, based on 11 firms covering the stock. Six analysts rate it a buy, while five recommend hold.
• Analysts’ average 1-year price target for CIBC is C$153.59, with several recent target updates ranging from C$143 to C$163. The stock recently opened at C$164.13, near its 52-week high of C$171.64.
• The bank reported C$2.54 EPS in its latest quarter and announced a quarterly dividend of C$1.07, implying an annualized yield of 2.6%. The dividend payout ratio stands at 40.48%.

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM have received a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$153.59.

CM has been the subject of a number of research analyst reports. Jefferies Financial Group raised their price objective on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research report on Wednesday, May 20th. Scotiabank boosted their target price on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a "sector perform" rating in a research report on Tuesday, June 16th. TD dropped their price target on Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a "buy" rating for the company in a research note on Friday, May 29th. Desjardins raised their price target on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Finally, National Bank Financial lifted their price objective on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a "sector perform" rating in a research note on Friday, May 15th.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM opened at C$164.13 on Friday. The firm has a fifty day moving average price of C$159.70 and a 200 day moving average price of C$144.42. Canadian Imperial Bank of Commerce has a fifty-two week low of C$97.81 and a fifty-two week high of C$171.64. The firm has a market cap of C$149.82 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 3.03 and a beta of 1.39.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last posted its earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. The company had revenue of C$8.01 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. As a group, research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, July 28th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.6%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 40.48%.

Insider Buying and Selling

In related news, insider Christopher John Anderson sold 8,490 shares of the company's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the sale, the insider owned 6,252 shares of the company's stock, valued at C$972,186. This represents a 57.59% decrease in their ownership of the stock. Also, insider Amy Florence South sold 1,086 shares of the company's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of C$162.15, for a total transaction of C$176,094.90. Over the last 90 days, insiders have sold 17,776 shares of company stock worth $2,817,744. Insiders own 0.02% of the company's stock.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.

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