Analysts Set Canadian Imperial Bank of Commerce (TSE:CM) Price Target at C$79.15

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$79.15.

Several analysts recently issued reports on CM shares. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and raised their target price for the stock from C$74.00 to C$90.00 in a research note on Friday, August 30th. Keefe, Bruyette & Woods raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Monday, June 3rd. Barclays upped their target price on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a report on Friday, August 30th. Royal Bank of Canada lifted their price target on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. Finally, Desjardins upped their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a report on Friday, August 30th.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at C$83.10 on Tuesday. Canadian Imperial Bank of Commerce has a one year low of C$47.44 and a one year high of C$84.17. The business’s 50 day simple moving average is C$74.57 and its two-hundred day simple moving average is C$69.38. The stock has a market capitalization of C$78.53 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.18. The company had revenue of C$6.60 billion during the quarter, compared to analyst estimates of C$6.31 billion. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 7.5778986 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Monday, October 28th will be paid a $0.90 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.60 annualized dividend and a dividend yield of 4.33%. Canadian Imperial Bank of Commerce’s payout ratio is currently 52.10%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Director Harry Kenneth Culham sold 50,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of C$81.87, for a total transaction of C$4,093,500.00. In related news, Director Harry Kenneth Culham sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of C$81.87, for a total value of C$4,093,500.00. Also, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$83.40, for a total value of C$3,087,634.80. Over the last 90 days, insiders sold 149,982 shares of company stock worth $12,397,023. 0.02% of the stock is owned by insiders.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.