Canadian Imperial Bank of Commerce (TSE:CM) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is C$87.17.

Several research firms recently weighed in on CM. Royal Bank of Canada increased their target price on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. Canaccord Genuity Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$92.00 in a research note on Tuesday, November 19th. TD Securities increased their target price on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research note on Friday, November 15th. National Bankshares increased their price target on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. Finally, Cormark raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and increased their price target for the stock from C$75.00 to C$83.00 in a research report on Friday, August 30th.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at C$90.88 on Friday. Canadian Imperial Bank of Commerce has a 52-week low of C$54.46 and a 52-week high of C$92.17. The company has a 50-day moving average of C$86.51 and a two-hundred day moving average of C$75.48. The stock has a market capitalization of C$85.88 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share for the quarter, beating the consensus estimate of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. The business had revenue of C$6.60 billion during the quarter, compared to analysts’ expectations of C$6.31 billion. Equities analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is 52.10%.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, Senior Officer Sandy Sharman sold 2,275 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$83.04, for a total value of C$188,916.00. Also, Director Harry Kenneth Culham sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of C$81.87, for a total transaction of C$4,093,500.00. Over the last 90 days, insiders sold 203,057 shares of company stock valued at $16,823,249. Corporate insiders own 0.02% 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.