Analysts Set Canadian Imperial Bank of Commerce (TSE:CM) PT at C$95.08

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$94.58.

A number of brokerages recently weighed in on CM. BMO Capital Markets raised 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. Canaccord Genuity Group raised 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. UBS Group reduced 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. Scotiabank raised their target price on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a report on Friday, December 6th. Finally, National Bankshares raised their price objective on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM opened at C$88.33 on Friday. The stock has a market capitalization of C$82.64 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1-year low of C$61.90 and a 1-year high of C$95.50. The company has a 50 day moving average price of C$90.89 and a 200 day moving average price of C$84.80.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were given a $0.97 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, December 27th. This represents a $3.88 dividend on an annualized basis and a yield of 4.39%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 47.55%.

Insiders Place Their Bets

In other news, Senior Officer Susan Rimmer sold 1,000 shares of the firm’s stock in a transaction 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, Senior Officer Robert Sedran sold 20,652 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of C$94.97, for a total transaction of C$1,961,227.51. Insiders sold a total of 177,012 shares of company stock worth $16,687,218 in the last quarter. 0.02% of the stock is currently owned by corporate insiders.

About Canadian Imperial Bank of Commerce

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.