Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, National Bankshares Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective hoisted by National Bankshares from C$86.00 to C$94.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

Several other research analysts have also recently weighed in on CM. Scotiabank boosted their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Jefferies Financial Group dropped their price target on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research note on Monday, August 12th. 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 research report on Friday, August 30th. TD Securities increased their price objective on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research report on Friday, November 15th. Finally, Desjardins raised their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and a consensus price target of C$83.00.

Canadian Imperial Bank of Commerce Trading Up 1.0 %

CM opened at C$90.72 on Wednesday. Canadian Imperial Bank of Commerce has a twelve month low of C$51.60 and a twelve month high of C$90.73. The firm has a market capitalization of C$85.73 billion, a PE ratio of 13.13, a PEG ratio of 3.03 and a beta of 1.12. The firm’s 50-day moving average price is C$85.26 and its 200 day moving average price is C$74.28.

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 the consensus estimate of C$1.75 by C$0.18. The firm had revenue of C$6.60 billion during the quarter, compared to analysts’ expectations of C$6.31 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. As a group, analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 52.10%.

Insider Activity at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of C$83.40, for a total value of C$3,087,634.80. Also, Director Harry Kenneth Culham sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of C$83.42, for a total value of C$4,170,750.00. Over the last three months, insiders sold 203,057 shares of company stock worth $16,823,249. Company insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

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.