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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$94.58.

Several research analysts recently commented on the stock. UBS Group dropped their target price on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. Canaccord Genuity Group lifted their target price on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$97.00 to C$103.00 in a report on Wednesday, January 8th. Cormark lifted their target price on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. Finally, BMO Capital Markets lifted their target price on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday, November 18th.

Insider Activity

In other news, Senior Officer Susan Rimmer sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$93.14, for a total transaction of C$93,140.00. Also, Director Victor George Dodig sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of C$94.22, for a total transaction of C$14,132,865.00. In the last three months, insiders have sold 177,012 shares of company stock worth $16,687,218. Corporate insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Up 0.4 %

Canadian Imperial Bank of Commerce stock opened at C$88.33 on Friday. The company has a market capitalization of C$82.64 billion, a P/E ratio of 11.67, a P/E/G ratio of 3.03 and a beta of 1.12. The firm’s fifty day simple moving average is C$90.89 and its 200-day simple moving average is C$84.80. Canadian Imperial Bank of Commerce has a 1-year low of C$61.90 and a 1-year high of C$95.50.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were given a dividend of $0.97 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. This represents a $3.88 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend was Friday, December 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.