Canadian Imperial Bank of Commerce (TSE:CM) Given Average Recommendation of “Moderate Buy” by Brokerages

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has earned an average recommendation of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$135.40.

A number of brokerages have commented on CM. Barclays upgraded shares of Canadian Imperial Bank of Commerce from a “strong sell” rating to an “overweight” rating and increased their price target for the company from C$126.00 to C$137.00 in a research report on Thursday, February 19th. BMO Capital Markets lifted their target price on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research report on Wednesday, December 17th. Jefferies Financial Group boosted their price target on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research note on Wednesday, February 11th. Desjardins lifted their price objective on Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Finally, Raymond James Financial boosted their target price on Canadian Imperial Bank of Commerce from C$122.00 to C$135.00 and gave the company a “market perform” rating in a research note on Tuesday, February 17th.

Canadian Imperial Bank of Commerce Stock Down 0.2%

TSE CM opened at C$135.96 on Tuesday. The stock’s 50-day simple moving average is C$128.33 and its two-hundred day simple moving average is C$118.68. Canadian Imperial Bank of Commerce has a twelve month low of C$76.17 and a twelve month high of C$137.24. The company has a market capitalization of C$125.98 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 3.03 and a beta of 1.26.

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

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 28th were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Monday, December 29th. Canadian Imperial Bank of Commerce’s payout ratio is currently 45.27%.

Insider Activity

In related news, insider Frank Guse sold 5,000 shares of Canadian Imperial Bank of Commerce stock in a transaction 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 transaction, the insider directly owned 1,359 shares of the company’s stock, valued at C$172,810.44. The trade was a 78.63% decrease in their ownership of the stock. Corporate insiders own 0.02% of the company’s stock.

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.