Canadian Imperial Bank of Commerce (TSE:CM) Price Target Cut to C$99.00 by Analysts at TD Securities

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target lowered by TD Securities from C$100.00 to C$99.00 in a research report released on Friday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada increased their target price on shares of Canadian Imperial Bank of Commerce from C$103.00 to C$108.00 in a research report on Friday. Canaccord Genuity Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. Scotiabank dropped their target price on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. BMO Capital Markets increased their target price on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. Finally, UBS Group decreased their price target on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$93.50.

Canadian Imperial Bank of Commerce Price Performance

TSE CM opened at C$87.67 on Friday. The firm’s fifty day moving average price is C$89.71 and its 200 day moving average price is C$85.86. The company has a market capitalization of C$82.02 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12 month low of C$63.20 and a 12 month high of C$95.50.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 4.43%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 47.55%.

Insider Transactions at Canadian Imperial Bank of Commerce

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

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.