Canadian Imperial Bank of Commerce (TSE:CM) Given Average Rating of “Hold” by Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received an average recommendation of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$69.27.

Several equities research analysts recently commented on CM shares. National Bankshares upped their target price on Canadian Imperial Bank of Commerce from C$76.00 to C$78.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Desjardins upped their target price on 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. Scotiabank upped their target price on Canadian Imperial Bank of Commerce from C$73.00 to C$77.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. UBS Group set a C$70.00 target price on Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a research report on Tuesday. Finally, BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from C$74.00 to C$77.00 in a report on Friday, May 31st.

Canadian Imperial Bank of Commerce Trading Up 0.8 %

Shares of CM stock opened at C$66.24 on Thursday. The stock has a market cap of C$62.08 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 3.01 and a beta of 1.11. The stock has a 50-day moving average of C$66.22 and a 200-day moving average of C$64.90. Canadian Imperial Bank of Commerce has a 1-year low of C$47.44 and a 1-year high of C$69.54.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, May 30th. The company reported C$1.75 earnings per share for the quarter, beating the consensus estimate of C$1.66 by C$0.09. Canadian Imperial Bank of Commerce had a return on equity of 12.14% and a net margin of 29.50%. The company had revenue of C$6.16 billion during the quarter, compared to analysts’ expectations of C$6.11 billion. Sell-side analysts forecast 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 business also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be issued a $0.90 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.43%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 55.21%.

Insider Activity

In other news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of C$67.50, for a total value of C$1,605,285.00. In related news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of C$67.50, for a total transaction of C$1,605,285.00. Also, 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 value of C$1,372,672.55. Corporate insiders own 0.03% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

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.