Canadian Imperial Bank of Commerce (TSE:CM) Upgraded at Barclays

Barclays upgraded shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) from a strong sell rating to an overweight rating in a research report released on Thursday morning, Marketbeat Ratings reports. They currently have C$137.00 price target on the stock, up from their prior price target of C$126.00.

A number of other research firms also recently issued reports on CM. National Bank Financial increased their target price on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$131.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 17th. Canaccord Genuity Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$129.00 to C$136.00 and gave the stock a “hold” rating in a research note on Thursday, February 12th. Jefferies Financial Group increased their price objective on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research report on Wednesday, February 11th. TD Securities raised their target price on shares of Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research note on Monday, February 9th. Finally, Scotiabank lifted their target price on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a report on Friday, January 9th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$135.40.

Canadian Imperial Bank of Commerce Trading Up 1.3%

Shares of CM opened at C$136.25 on Thursday. Canadian Imperial Bank of Commerce has a twelve month low of C$76.17 and a twelve month high of C$136.30. The firm has a market capitalization of C$126.25 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26. The stock’s fifty day simple moving average is C$128.18 and its 200 day simple moving average is C$118.29.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. The firm had revenue of C$7.58 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%. Sell-side analysts predict 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th were issued a $1.07 dividend. The ex-dividend date was Monday, December 29th. This represents a $4.28 dividend on an annualized basis and a yield of 3.1%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.27%.

Insiders Place Their Bets

In other news, insider Frank Guse sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the completion of the sale, the insider directly owned 1,359 shares in the company, 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 currently owned by 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.