Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, National Bankshares Analyst Says

Key Points

• Analysts at National Bankshares have increased their price target for Canadian Imperial Bank of Commerce (CIBC) from C$98.00 to C$99.00, indicating a potential downside of 3.24% from the current share price.
• The stock currently holds a consensus rating of "Moderate Buy" with an average target price of C$99.46, reflecting mixed ratings from analysts, including one sell, four hold, and six buy ratings.
• CIBC's share price recently rose by 0.3% to C$102.31, with a market capitalization of C$95.72 billion and a PE ratio of 13.51.

Canadian Imperial Bank of Commerce (TSE:CM - Free Report) NYSE: CM had its price objective raised by National Bankshares from C$98.00 to C$99.00 in a research report report published on Friday,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

A number of other analysts have also recently commented on the stock. Desjardins upped their price objective on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$106.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Canaccord Genuity Group set a C$96.00 price target on Canadian Imperial Bank of Commerce and gave the stock a "hold" rating in a report on Tuesday, June 24th. National Bank Financial cut Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Thursday, May 29th. Barclays lifted their price target on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$96.00 and gave the company an "underweight" rating in a research report on Thursday, August 14th. Finally, Scotiabank upgraded shares of Canadian Imperial Bank of Commerce to a "strong-buy" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$99.46.

Canadian Imperial Bank of Commerce Stock Up 0.1%

TSE:CM traded up C$0.10 during trading hours on Friday, hitting C$101.48. 1,255,668 shares of the stock were exchanged, compared to its average volume of 3,581,769. The company's 50 day moving average is C$98.57 and its two-hundred day moving average is C$90.44. Canadian Imperial Bank of Commerce has a twelve month low of C$72.41 and a twelve month high of C$102.45. The company has a market capitalization of C$94.94 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Monday, July 28th were paid a dividend of $0.97 per share. The ex-dividend date was Friday, June 27th. This represents a $3.88 annualized dividend and a dividend yield of 3.8%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 47.55%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Senior Officer Shawn Beber sold 9,107 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of C$94.28, for a total transaction of C$858,567.89. Also, Senior Officer Hratch Dikran Panossian sold 9,006 shares of Canadian Imperial Bank of Commerce stock in a transaction on Monday, June 23rd. The stock was sold at an average price of C$94.96, for a total transaction of C$855,240.38. Insiders sold a total of 105,837 shares of company stock valued at $9,903,590 in the last quarter. Corporate insiders own 0.02% of the company's stock.

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.