Brokerages Set Canadian Imperial Bank of Commerce (TSE:CM) Price Target at C$95.92

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM have earned an average recommendation of "Moderate Buy" from the twelve research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$95.92.

A number of research analysts recently issued reports on CM shares. Barclays increased their price objective 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. National Bank Financial downgraded Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Thursday, May 29th. TD Securities decreased their price target on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Royal Bank Of Canada decreased their price target on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$112.00 and set an "outperform" rating for the company in a research note on Monday, June 9th. Finally, National Bankshares set a C$95.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock an "outperform" rating in a research note on Thursday, May 22nd.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, Senior Officer John Hountalas sold 32,018 shares of Canadian Imperial Bank of Commerce stock in a transaction dated 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. Also, Senior Officer Shawn Beber sold 3,151 shares of Canadian Imperial Bank of Commerce stock in a transaction dated 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 96,831 shares of company stock valued at $9,048,349. 0.02% of the stock is owned by corporate insiders.

Canadian Imperial Bank of Commerce Price Performance

CM stock traded up C$0.12 during trading hours on Thursday, reaching C$94.69. 5,457,906 shares of the stock were exchanged, compared to its average volume of 3,821,412. The firm's 50-day moving average is C$89.81 and its 200-day moving average is C$88.14. The company has a market cap of C$88.59 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12 month low of C$64.63 and a 12 month high of C$96.45.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Monday, July 28th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $3.88 annualized dividend and a dividend yield of 4.10%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 47.55%.

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.