Canadian Imperial Bank of Commerce (TSE:CM) Stock Rated "Hold" by Sell-Side Analysts

Key Points

• Analysts rate CIBC “Hold” overall: Seven of 12 analysts recommend holding the stock, while five recommend buying it. The average 12-month price target is C$167.79.
• CIBC shares opened at C$158.65, with a market capitalization of approximately C$144 billion. The bank recently reported quarterly EPS of C$2.73 on revenue of C$8.37 billion.
• CIBC announced a quarterly dividend of $1.07 per share, equivalent to an annualized $4.28 payout and a 2.7% yield. Separately, insider Amy Florence South sold 4,218 shares worth about C$680,827.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM has been assigned a consensus recommendation of "Hold" from the twelve analysts that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is C$167.79.

A number of research analysts have recently weighed in on CM shares. Canaccord Genuity Group increased their price objective on Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the company a "hold" rating in a report on Friday, August 28th. National Bank Financial set a C$180.00 target price on Canadian Imperial Bank of Commerce and gave the company a "sector perform" rating in a research report on Monday, August 24th. Jefferies Financial Group increased their price target on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$154.00 in a report on Thursday, September 3rd. Scotiabank raised their price target on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a "sector perform" rating in a research report on Tuesday, June 16th. Finally, TD lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, insider Amy Florence South sold 4,218 shares of the company's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of C$161.41, for a total value of C$680,827.38. 0.02% of the stock is owned by corporate insiders.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at C$158.65 on Wednesday. The company's fifty day moving average price is C$161.93 and its 200-day moving average price is C$156.02. Canadian Imperial Bank of Commerce has a 1-year low of C$111.45 and a 1-year high of C$172.87. The firm has a market capitalization of C$144.04 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 3.03 and a beta of 1.32.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last issued its earnings results on Thursday, August 27th. The company reported C$2.73 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%.The company had revenue of C$8.37 billion during the quarter. As a group, research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 28th will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, September 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 40.12%.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.

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