Canadian Imperial Bank of Commerce (TSE:CM) Receives Average Rating of “Hold” from Brokerages

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been given an average rating of “Hold” by the ten research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$126.09.

A number of research firms have weighed in on CM. Desjardins raised their price objective on shares of Canadian Imperial Bank of Commerce from C$132.00 to C$135.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Scotiabank raised their price target on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research report on Friday, January 9th. TD Securities boosted their price objective on Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the stock a “buy” rating in a report on Friday, December 5th. BMO Capital Markets increased their price objective on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research note on Wednesday, December 17th. Finally, Barclays upped their price target on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a report on Monday, December 8th.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, insider Frank Guse sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the transaction, the insider directly owned 1,359 shares of the company’s stock, valued at C$172,810.44. This trade represents a 78.63% decrease in their ownership of the stock. 0.02% of the stock is owned by insiders.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at C$128.23 on Friday. Canadian Imperial Bank of Commerce has a 52 week low of C$76.17 and a 52 week high of C$129.25. The stock has a 50 day moving average price of C$125.48 and a two-hundred day moving average price of C$114.70. The stock has a market capitalization of C$118.82 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 3.03 and a beta of 1.31.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%.The company had revenue of C$7.58 billion for the quarter. Research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 28th were issued a $1.07 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.27%.

About Canadian Imperial Bank of Commerce

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.