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

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$92.67.

CM has been the subject of a number of research reports. Cormark upped their price objective on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th. UBS Group raised their price objective on Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research note on Monday, December 16th. Barclays boosted their target price on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research note on Friday, August 30th. National Bankshares raised their price target on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada boosted their price objective on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Director Harry Kenneth Culham sold 800 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of C$83.20, for a total transaction of C$66,560.00. Also, Director Victor George Dodig sold 150,000 shares of the firm’s stock in a transaction dated 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. Over the last 90 days, insiders sold 177,812 shares of company stock valued at $16,753,778. 0.02% of the stock is currently owned by company insiders.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at C$92.53 on Thursday. Canadian Imperial Bank of Commerce has a 1 year low of C$59.53 and a 1 year high of C$95.50. The stock has a 50 day simple moving average of C$89.73 and a two-hundred day simple moving average of C$78.44. The firm has a market cap of C$87.44 billion, a P/E ratio of 13.39, a P/E/G ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be given a $0.97 dividend. The ex-dividend date is Friday, December 27th. This represents a $3.88 annualized dividend and a dividend yield of 4.19%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.10%.

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.