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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been assigned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$153.59.

CM has been the topic of a number of analyst reports. Canaccord Genuity Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the company a “hold” rating in a research report on Tuesday, July 7th. Scotiabank raised their target price on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a “sector perform” rating in a report on Tuesday, June 16th. National Bank Financial raised their target price on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a report on Friday, May 15th. Raymond James Financial dropped their price target on shares of Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a “market perform” rating for the company in a research note on Friday, May 29th. Finally, Desjardins upped their price target on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a report on Tuesday, May 5th.

Canadian Imperial Bank of Commerce Price Performance

TSE:CM opened at C$164.13 on Friday. The firm has a market capitalization of C$149.82 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 3.03 and a beta of 1.39. The business has a 50 day simple moving average of C$159.70 and a 200-day simple moving average of C$144.42. Canadian Imperial Bank of Commerce has a 1 year low of C$97.81 and a 1 year high of C$171.64.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The firm had revenue of C$8.01 billion for the quarter. As a group, 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 28th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is 40.48%.

Insider Activity

In related news, insider Christopher John Anderson sold 8,490 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the completion of the sale, the insider directly owned 6,252 shares of the company’s stock, valued at approximately C$972,186. This trade represents a 57.59% decrease in their position. Also, insider Amy Florence South sold 1,200 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of C$160.92, for a total value of C$193,104.00. Over the last 90 days, insiders have sold 17,776 shares of company stock valued at $2,817,744. 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.