Canadian Imperial Bank of Commerce (TSE:CM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been given an average rating of “Moderate Buy” by the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is C$92.67.

Several brokerages have issued reports on CM. National Bankshares lifted their target price on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. Canaccord Genuity Group lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. BMO Capital Markets increased their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. UBS Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research report on Monday, December 16th. Finally, Cormark lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th.

Canadian Imperial Bank of Commerce Price Performance

Shares of TSE:CM opened at C$90.93 on Thursday. Canadian Imperial Bank of Commerce has a 1 year low of C$59.53 and a 1 year high of C$95.50. The firm has a market capitalization of C$85.93 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The business’s 50 day moving average price is C$90.61 and its 200-day moving average price is C$79.44.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be given a $0.97 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. The ex-dividend date is Friday, December 27th. This represents a $3.88 annualized dividend and a yield of 4.27%. Canadian Imperial Bank of Commerce’s payout ratio is 52.10%.

Insiders Place Their Bets

In other Canadian Imperial Bank of Commerce news, Director Victor George Dodig sold 150,000 shares of Canadian Imperial Bank of Commerce stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of C$94.22, for a total transaction of C$14,132,865.00. Also, Senior Officer Susan Rimmer sold 1,000 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$93.14, for a total value of C$93,140.00. Insiders sold a total of 177,012 shares of company stock worth $16,687,218 over the last ninety days. 0.02% of the stock is currently owned by company insiders.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.