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Brokerages Set Canadian Imperial Bank of Commerce (TSE:CM) Price Target at C$96.23

Canadian Imperial Bank of Commerce logo with Financial Services background

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM have been given an average rating of "Moderate Buy" by the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$96.23.

A number of equities research analysts recently commented on the company. Barclays lifted their target price on Canadian Imperial Bank of Commerce from C$90.00 to C$94.00 and gave the stock an "underperform" rating in a report on Monday, June 9th. Royal Bank Of Canada decreased their target price on Canadian Imperial Bank of Commerce from C$116.00 to C$112.00 and set an "outperform" rating for the company in a report on Monday, June 9th. Scotiabank raised Canadian Imperial Bank of Commerce to a "strong-buy" rating in a report on Thursday, May 15th. 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. Finally, Canaccord Genuity Group set a C$96.00 price target on Canadian Imperial Bank of Commerce and gave the company a "hold" rating in a research report on Tuesday, June 24th.

Read Our Latest Stock Report on CM

Canadian Imperial Bank of Commerce Price Performance

TSE CM traded up C$0.95 during trading on Monday, hitting C$100.34. The company's stock had a trading volume of 3,237,366 shares, compared to its average volume of 3,812,576. The company has a market cap of C$93.87 billion, a PE ratio of 13.25, a P/E/G ratio of 3.03 and a beta of 1.12. The business's 50 day simple moving average is C$94.83 and its 200-day simple moving average is C$88.84. Canadian Imperial Bank of Commerce has a fifty-two week low of C$67.01 and a fifty-two week high of C$100.58.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Monday, July 28th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 47.55%.

Insider Transactions at Canadian Imperial Bank of Commerce

In other news, 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 value of C$3,005,657.73. Also, Senior Officer Shawn Beber sold 3,151 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, June 19th. The stock was sold at an average price of C$94.61, for a total value of C$298,126.51. Over the last three months, insiders sold 105,837 shares of company stock valued at $9,903,590. Insiders own 0.02% of the company's stock.

Canadian Imperial Bank of Commerce Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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