Canadian Imperial Bank of Commerce (TSE:CM) Receives C$108.25 Consensus Price Target from Analysts

Key Points

• Canadian Imperial Bank of Commerce is currently rated as a "Hold" by nine brokerages, with an average target price of C$108.25.
• Recent target price increases include Barclays at C$106.00, Scotiabank at C$116.00, and TD Securities at C$117.00, indicating mixed outlooks from analysts.
• The bank declared a quarterly dividend of $0.97, representing an annualized dividend yield of 3.7% with a payout ratio of 46.98%.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM has been assigned an average rating of "Hold" from the nine ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$108.25.

A number of analysts recently commented on the company. Jefferies Financial Group lifted their price target on Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a report on Wednesday, August 13th. BMO Capital Markets boosted their price objective on Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a research note on Friday, August 29th. Scotiabank upped their target price on Canadian Imperial Bank of Commerce from C$101.00 to C$116.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. National Bankshares increased their price target on Canadian Imperial Bank of Commerce from C$99.00 to C$110.00 and gave the stock a "sector perform" rating in a research report on Friday, August 29th. Finally, TD Securities raised their target price on shares of Canadian Imperial Bank of Commerce from C$110.00 to C$117.00 and gave the stock a "buy" rating in a research note on Friday, August 29th.

Canadian Imperial Bank of Commerce Stock Up 1.6%

Shares of CM traded up C$1.72 on Tuesday, hitting C$108.19. The company's stock had a trading volume of 2,625,721 shares, compared to its average volume of 3,561,464. The firm's fifty day moving average price is C$100.29 and its 200-day moving average price is C$91.43. The firm has a market capitalization of C$101.70 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 3.03 and a beta of 1.34. Canadian Imperial Bank of Commerce has a fifty-two week low of C$76.17 and a fifty-two week high of C$108.20.

Canadian Imperial Bank of Commerce Announces Dividend

The firm 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. The ex-dividend date was Friday, June 27th. This represents a $3.88 annualized dividend and a dividend yield of 3.6%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 46.07%.

Insiders Place Their Bets

In related news, Senior Officer Shawn Beber sold 9,107 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Friday, June 6th. The shares were sold at an average price of C$94.28, for a total value of C$858,567.89. Also, Senior Officer John Hountalas sold 32,018 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of C$93.87, for a total transaction of C$3,005,657.73. Insiders sold a total of 62,347 shares of company stock valued at $5,855,975 in the last ninety days. Corporate insiders own 0.02% of the company's stock.

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.