Canaccord Genuity Group Has Lowered Expectations for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM - Free Report) NYSE: CM had its target price trimmed by Canaccord Genuity Group from C$93.00 to C$92.00 in a research note issued to investors on Monday morning,BayStreet.CA reports.

CM has been the subject of a number of other reports. UBS Group decreased their price objective on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research note on Friday, February 14th. National Bankshares dropped their target price on Canadian Imperial Bank of Commerce from C$101.00 to C$95.00 and set an "outperform" rating on the stock in a report on Monday, April 7th. Royal Bank of Canada set a C$108.00 price objective on Canadian Imperial Bank of Commerce and gave the company an "outperform" rating in a research report on Monday, March 17th. TD Securities cut their price objective on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Finally, Jefferies Financial Group cut 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$94.31.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM traded up C$0.93 during mid-day trading on Monday, reaching C$92.71. 2,278,812 shares of the company's stock traded hands, compared to its average volume of 4,013,159. The stock's 50-day moving average is C$83.49 and its two-hundred day moving average is C$87.49. The stock has a market cap of C$86.74 billion, a P/E ratio of 12.24, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12 month low of C$64.47 and a 12 month high of C$95.50.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $3.88 annualized dividend and a dividend yield of 4.19%. Canadian Imperial Bank of Commerce's payout ratio is 47.55%.

Insider Buying and Selling

In other news, Senior Officer Sandy Sharman sold 1,027 shares of Canadian Imperial Bank of Commerce stock in a transaction on Friday, March 21st. The stock was sold at an average price of C$81.27, for a total transaction of C$83,464.29. Company insiders own 0.02% of the company's stock.

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.