Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$127.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target upped by Jefferies Financial Group from C$123.00 to C$127.00 in a research report report published on Wednesday,BayStreet.CA reports.

Several other equities analysts also recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. Scotiabank increased their price target on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research note on Friday, January 9th. Desjardins raised their price target on Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a report on Monday, February 9th. Barclays lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research note on Monday, December 8th. Finally, TD Securities increased their target price on shares of Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research report on Monday, February 9th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$133.70.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at C$130.51 on Wednesday. Canadian Imperial Bank of Commerce has a one year low of C$76.17 and a one year high of C$133.80. The company has a 50-day simple moving average of C$127.53 and a 200-day simple moving average of C$116.98. The firm has a market capitalization of C$120.93 billion, a P/E ratio of 15.23, a P/E/G ratio of 3.03 and a beta of 1.26.

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

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 28th were given a dividend of $1.07 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date was Monday, December 29th. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. Canadian Imperial Bank of Commerce’s payout ratio is 45.27%.

Insider Activity

In related news, insider Frank Guse sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total value of C$635,800.00. Following the sale, the insider directly owned 1,359 shares in the company, valued at C$172,810.44. The trade was a 78.63% decrease in their position. 0.02% of the stock is owned by corporate insiders.

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.