Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$74.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price upped by Royal Bank of Canada from C$69.00 to C$74.00 in a research report report published on Friday morning, BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other research firms have also weighed in on CM. Bank of America raised shares of Canadian Imperial Bank of Commerce from a neutral rating to a buy rating and upped their target price for the stock from C$74.00 to C$90.00 in a report on Friday. National Bankshares increased their price target on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the stock an outperform rating in a report on Friday. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a hold rating to a moderate buy rating in a report on Monday, June 3rd. Barclays increased their price target on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an underweight rating in a report on Friday. Finally, BMO Capital Markets increased their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an outperform rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of C$79.15.

Canadian Imperial Bank of Commerce Stock Up 1.6 %

CM opened at C$78.76 on Friday. The stock has a market cap of C$74.27 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 3.01 and a beta of 1.12. Canadian Imperial Bank of Commerce has a twelve month low of C$47.44 and a twelve month high of C$79.62. The company’s 50-day moving average price is C$69.53 and its two-hundred day moving average price is C$67.29.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, May 30th. The company reported C$1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.66 by C$0.09. Canadian Imperial Bank of Commerce had a net margin of 29.25% and a return on equity of 11.92%. The company had revenue of C$6.16 billion for the quarter, compared to analyst estimates of C$6.11 billion. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 7.3207171 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 annualized dividend and a dividend yield of 4.57%. Canadian Imperial Bank of Commerce’s payout ratio is 54.96%.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of C$67.50, for a total transaction of C$1,605,285.00. In other news, Senior Officer John Hountalas sold 20,808 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of C$65.97, for a total transaction of C$1,372,672.55. Also, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of C$67.50, for a total transaction of C$1,605,285.00. 0.02% of the stock is owned by company 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.