Canadian Imperial Bank of Commerce (TSE:CM) Receives Average Rating of "Moderate Buy" from Analysts

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM has received a consensus rating of "Moderate Buy" from the twelve analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$96.23.

CM has been the subject of a number of analyst reports. National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Thursday, May 29th. Barclays increased their price target 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 research note on Monday, June 9th. Canaccord Genuity Group set a C$96.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the stock a "hold" rating in a research report on Tuesday, June 24th. Scotiabank raised shares of Canadian Imperial Bank of Commerce to a "strong-buy" rating in a research report on Thursday, May 15th. Finally, National Bankshares set a C$95.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the stock an "outperform" rating in a research report on Thursday, May 22nd.

Canadian Imperial Bank of Commerce Price Performance

TSE:CM traded down C$1.06 during mid-day trading on Monday, hitting C$98.98. The company's stock had a trading volume of 3,035,011 shares, compared to its average volume of 3,826,282. Canadian Imperial Bank of Commerce has a 1 year low of C$66.82 and a 1 year high of C$100.58. The stock has a market cap of C$92.60 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 3.03 and a beta of 1.12. The business's fifty day moving average is C$93.94 and its two-hundred day moving average is C$88.57.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Monday, July 28th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $3.88 annualized dividend and a yield of 3.92%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 47.55%.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, Senior Officer Christina Charlotte Kramer sold 43,490 shares of Canadian Imperial Bank of Commerce stock in a transaction on 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. Also, Senior Officer John Hountalas sold 32,018 shares of Canadian Imperial Bank of Commerce stock in a transaction 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 have sold 105,837 shares of company stock valued at $9,903,590 over the last quarter. 0.02% of the stock is owned by insiders.

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.