Canadian Imperial Bank of Commerce (TSE:CM) Given a C$70.00 Price Target by UBS Group Analysts

UBS Group set a C$70.00 target price on Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) in a research report released on Tuesday, BayStreet.CA reports. The firm currently has a neutral rating on the stock.

A number of other research analysts have also weighed in on the stock. National Bankshares boosted their target price on shares of Canadian Imperial Bank of Commerce from C$76.00 to C$78.00 and gave the stock an outperform rating in a research report on Friday, May 31st. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a hold rating to a moderate buy rating in a research report on Monday, June 3rd. Barclays upped their price objective on shares of Canadian Imperial Bank of Commerce from C$70.00 to C$71.00 and gave the company an underweight rating in a research report on Friday, May 31st. BMO Capital Markets upped their price objective on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$77.00 in a research report on Friday, May 31st. Finally, Desjardins upped their price objective on shares of Canadian Imperial Bank of Commerce from C$67.00 to C$71.00 and gave the company a hold rating in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of C$69.27.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at C$65.70 on Tuesday. The firm has a market cap of C$61.58 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 3.01 and a beta of 1.11. Canadian Imperial Bank of Commerce has a fifty-two week low of C$47.44 and a fifty-two week high of C$69.54. The firm has a fifty day moving average price of C$66.22 and a two-hundred day moving average price of C$64.87.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, May 30th. The company reported C$1.75 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.66 by C$0.09. The firm had revenue of C$6.16 billion during the quarter, compared to analyst estimates of C$6.11 billion. Canadian Imperial Bank of Commerce had a net margin of 29.50% and a return on equity of 12.14%. As a group, sell-side analysts expect that Canadian Imperial Bank of Commerce will post 6.7699387 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, June 28th. This represents a $3.60 annualized dividend and a yield of 5.48%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 55.21%.

Insiders Place Their Bets

In other Canadian Imperial Bank of Commerce news, Senior Officer John Hountalas sold 20,808 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of C$65.97, for a total transaction of C$1,372,672.55. In other news, Senior Officer John Hountalas sold 20,808 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$65.97, for a total transaction of C$1,372,672.55. Also, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of C$67.50, for a total transaction of C$1,605,285.00. Insiders own 0.03% of the company’s stock.

About Canadian Imperial Bank of Commerce

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.