Barclays Raises Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$94.00

Canadian Imperial Bank of Commerce (TSE:CM - Free Report) NYSE: CM had its target price upped by Barclays from C$90.00 to C$94.00 in a research note published on Monday,BayStreet.CA reports. They currently have an underperform rating on the stock.

CM has been the subject of several other research reports. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and reduced their price objective for the stock from C$100.00 to C$89.00 in a research note on Monday, April 21st. Scotiabank upgraded shares of Canadian Imperial Bank of Commerce to a "strong-buy" rating in a research note on Thursday, May 15th. TD Securities cut their price target on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Royal Bank of Canada cut their price target on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$112.00 and set an "outperform" rating on the stock in a research note on Monday. Finally, Canaccord Genuity Group cut their price target on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a research note on Monday, May 12th. One 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 to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$95.92.

Canadian Imperial Bank of Commerce Stock Up 0.1%

Shares of TSE CM traded up C$0.06 during trading hours on Monday, hitting C$92.93. 2,115,123 shares of the stock were exchanged, compared to its average volume of 3,817,381. The company has a market cap of C$86.94 billion, a PE ratio of 12.27, a PEG ratio of 3.03 and a beta of 1.12. The firm has a fifty day moving average price of C$87.77 and a 200-day moving average price of C$88.00. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.18%. Canadian Imperial Bank of Commerce's payout ratio is currently 47.55%.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer John Hountalas sold 32,018 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of C$93.87, for a total value of C$3,005,657.73. Also, Senior Officer Christina Charlotte Kramer sold 43,490 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of C$93.07, for a total transaction of C$4,047,614.30. Insiders have sold 85,642 shares of company stock worth $7,995,304 over the last 90 days. 0.02% of the stock is currently owned by company 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.