Canadian Imperial Bank of Commerce (TSE:CM) Price Target Cut to C$95.00 by Analysts at Scotiabank

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective reduced by Scotiabank from C$114.00 to C$95.00 in a research note published on Thursday morning,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other brokerages have also weighed in on CM. BMO Capital Markets raised their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday, November 18th. UBS Group dropped their target price on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. National Bankshares lifted their price target on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. Canaccord Genuity Group increased their price objective on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. Finally, TD Securities boosted their target price on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$93.00.

Canadian Imperial Bank of Commerce Stock Down 0.6 %

Shares of TSE:CM opened at C$87.37 on Thursday. Canadian Imperial Bank of Commerce has a fifty-two week low of C$62.21 and a fifty-two week high of C$95.50. The firm’s 50 day moving average price is C$90.48 and its 200 day moving average price is C$85.18. The stock has a market cap of C$81.74 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $3.88 dividend on an annualized basis and a yield of 4.44%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. Canadian Imperial Bank of Commerce’s payout ratio is currently 47.55%.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Director Victor George Dodig sold 150,000 shares of the 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. Also, Senior Officer Susan Rimmer sold 1,000 shares of the business’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 value of C$93,140.00. Over the last ninety days, insiders have sold 177,012 shares of company stock worth $16,687,218. Insiders own 0.02% of the company’s stock.

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.