Canadian Imperial Bank of Commerce (TSE:CM) Given New C$95.00 Price Target at Scotiabank

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

A number of other equities research analysts have also issued reports on the stock. Cormark upped their target price on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. BMO Capital Markets upped their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$97.00 to C$103.00 in a research note on Wednesday, January 8th. TD Securities upped their price target on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research report on Friday, November 15th. Finally, UBS Group reduced their price objective on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. One investment 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, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and an average price target of C$93.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at C$87.37 on Thursday. The stock has a 50 day moving average price of C$90.48 and a 200 day moving average price of C$85.18. Canadian Imperial Bank of Commerce has a one year low of C$62.21 and a one year high of C$95.50. The stock has a market capitalization of C$81.74 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 27th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.44%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 47.55%.

Insider Activity at Canadian Imperial Bank of Commerce

In other news, Senior Officer Susan Rimmer sold 1,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of C$93.14, for a total transaction of C$93,140.00. Also, Senior Officer Frank Guse sold 5,360 shares of Canadian Imperial Bank of Commerce stock in a transaction on Monday, December 9th. The shares were sold at an average price of C$93.28, for a total value of C$499,985.62. Following the completion of the sale, the insider now directly owns 440 shares of the company’s stock, valued at C$41,043.60. The trade was a 92.41 % decrease in their ownership of the stock. In the last ninety days, insiders have 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.