Brokerages Set Canadian Imperial Bank of Commerce (TSE:CM) Target Price at C$95.92

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been given an average rating of “Moderate Buy” by the twelve research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is C$95.92.

Several research analysts have recently commented on the company. Scotiabank raised Canadian Imperial Bank of Commerce to a “strong-buy” rating in a report on Thursday, May 15th. National Bank Financial downgraded Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 29th. Canaccord Genuity Group reduced their target price on Canadian Imperial Bank of Commerce from C$93.00 to C$92.00 in a report on Monday, May 12th. National Bankshares set a C$95.00 target price on Canadian Imperial Bank of Commerce and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$100.00 to C$89.00 in a report on Monday, April 21st.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Senior Officer John Hountalas sold 32,018 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of C$93.87, for a total value of C$3,005,657.73. Also, Senior Officer Christina Charlotte Kramer sold 43,490 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of C$93.07, for a total transaction of C$4,047,614.30. In the last 90 days, insiders sold 96,831 shares of company stock worth $9,048,349. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Up 0.1%

CM stock opened at C$94.69 on Thursday. Canadian Imperial Bank of Commerce has a 1-year low of C$64.63 and a 1-year high of C$96.45. The firm has a market cap of C$88.59 billion, a P/E ratio of 12.51, a P/E/G ratio of 3.03 and a beta of 1.12. The business’s 50 day moving average is C$89.81 and its 200-day moving average is C$88.15.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Monday, July 28th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Friday, June 27th. Canadian Imperial Bank of Commerce’s payout ratio is 47.55%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.