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
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Get Free ReportCanadian 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.
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