Canadian Imperial Bank of Commerce (TSE:CM) Upgraded by Barclays to “Overweight” Rating

Barclays upgraded shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) from an underweight rating to an overweight rating in a research report released on Thursday morning,BayStreet.CA reports. The brokerage currently has C$137.00 target price on the stock, up from their prior target price of C$126.00.

CM has been the topic of a number of other reports. Jefferies Financial Group boosted their price target on Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a report on Wednesday, February 11th. Raymond James Financial boosted their target price on shares of Canadian Imperial Bank of Commerce from C$122.00 to C$135.00 and gave the stock a “market perform” rating in a report on Tuesday. BMO Capital Markets upped their target price on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research report on Wednesday, December 17th. National Bank Financial lifted their price target on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$131.00 and gave the company a “sector perform” rating in a report on Tuesday. Finally, Royal Bank Of Canada boosted their price target on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$135.40.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at C$134.47 on Thursday. The company has a market capitalization of C$124.60 billion, a P/E ratio of 15.69, a P/E/G ratio of 3.03 and a beta of 1.26. The company has a fifty day moving average of C$128.01 and a 200 day moving average of C$117.90. Canadian Imperial Bank of Commerce has a fifty-two week low of C$76.17 and a fifty-two week high of C$134.70.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, December 4th. The company reported C$2.21 EPS for the quarter. The business had revenue of C$7.58 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%. Analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.2%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date was Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 45.27%.

Insider Activity at Canadian Imperial Bank of Commerce

In other news, insider Frank Guse sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total value of C$635,800.00. Following the sale, the insider directly owned 1,359 shares in the company, valued at C$172,810.44. The trade was a 78.63% decrease in their position. 0.02% of the stock is owned by insiders.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.