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 given an average rating of “Moderate Buy” by the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is C$152.86.

Several research firms have recently issued reports on CM. Barclays lifted their price target on Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research report on Monday, March 2nd. Royal Bank Of Canada lowered their price target on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Desjardins lifted their price target on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Jefferies Financial Group lifted their price target on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research report on Wednesday, May 20th. Finally, Canaccord Genuity Group lifted their price target on Canadian Imperial Bank of Commerce from C$158.00 to C$160.00 and gave the stock a “hold” rating in a research report on Friday, June 5th.

Insider Transactions at Canadian Imperial Bank of Commerce

In other news, insider Stephen Alan Scholtz sold 6,000 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total value of C$976,200.00. Also, insider Amy Florence South sold 1,200 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of C$160.92, for a total value of C$193,104.00. Insiders sold a total of 17,776 shares of company stock valued at $2,817,744 in the last quarter. 0.02% of the stock is owned by insiders.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at C$161.25 on Monday. The firm has a market capitalization of C$147.19 billion, a P/E ratio of 16.00, a P/E/G ratio of 3.03 and a beta of 1.42. The business has a fifty day simple moving average of C$154.12 and a two-hundred day simple moving average of C$139.28. Canadian Imperial Bank of Commerce has a 12 month low of C$95.01 and a 12 month high of C$163.59.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. The business had revenue of C$8.01 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%. Analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 28th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is currently 40.48%.

Canadian Imperial Bank of Commerce Company Profile

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.