Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$153.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price lifted by Jefferies Financial Group from C$143.00 to C$153.00 in a research report report published on Thursday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

Several other analysts also recently commented on the stock. National Bank Financial upped their price target on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a research report on Friday, May 15th. Raymond James Financial increased their price target on shares of Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the stock a “market perform” rating in a research note on Wednesday. Scotiabank raised their price objective on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 16th. Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and lifted their price objective for the company from C$160.00 to C$173.00 in a research note on Wednesday, August 5th. Finally, TD upped their target price on shares of Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the company a “buy” rating in a report on Wednesday. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$160.95.

Canadian Imperial Bank of Commerce Stock Up 0.8%

CM opened at C$171.76 on Thursday. The firm has a market cap of C$156.78 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 3.03 and a beta of 1.40. Canadian Imperial Bank of Commerce has a 52 week low of C$100.43 and a 52 week high of C$171.76. The business’s 50 day moving average is C$163.75 and its two-hundred day moving average is C$148.76.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. The company had revenue of C$8.01 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%. Equities analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 28th were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 40.48%.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, insider Amy Florence South sold 1,086 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of C$162.15, for a total transaction of C$176,094.90. Also, insider Stephen Alan Scholtz sold 6,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total value of C$976,200.00. Insiders sold 17,776 shares of company stock worth $2,817,744 over the last 90 days. 0.02% of the stock is currently owned by insiders.

About Canadian Imperial Bank of Commerce

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.