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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price cut by TD Securities from C$100.00 to C$99.00 in a report published on Friday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. UBS Group decreased their target price on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. Cormark boosted 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. National Bankshares boosted their target price on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. Scotiabank decreased 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 report on Thursday, February 20th. Finally, Royal Bank of Canada boosted their target price on shares of Canadian Imperial Bank of Commerce from C$103.00 to C$108.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$93.50.

Canadian Imperial Bank of Commerce Trading Up 1.4 %

CM opened at C$87.67 on Friday. The firm has a market capitalization of C$82.02 billion, a PE ratio of 11.58, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a twelve month low of C$63.20 and a twelve month high of C$95.50. The firm’s 50-day moving average price is C$89.71 and its 200 day moving average price is C$85.86.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 4.43%. Canadian Imperial Bank of Commerce’s payout ratio is currently 47.55%.

Insider Buying and Selling

In related news, Director Victor George Dodig sold 150,000 shares of the company’s stock in a transaction that occurred on 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. Also, Senior Officer Robert Sedran sold 20,652 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$94.97, for a total transaction of C$1,961,227.51. Insiders have sold a total of 177,012 shares of company stock valued at $16,687,218 in the last ninety days. 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.