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

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$95.08.

A number of research firms recently weighed in on CM. Scotiabank increased their price objective on Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a report on Friday, December 6th. National Bankshares increased their price objective on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. Cormark increased their price target on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. Canaccord Genuity Group increased their price objective on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. Finally, UBS Group increased their price objective on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research report on Monday, December 16th.

Insider Transactions at Canadian Imperial Bank of Commerce

In other news, Senior Officer Robert Sedran sold 20,652 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, December 12th. The shares were sold at an average price of C$94.97, for a total transaction of C$1,961,227.51. Also, Senior Officer Frank Guse sold 5,360 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$93.28, for a total transaction of C$499,985.62. Following the completion of the sale, the insider now directly owns 440 shares of the company’s stock, valued at C$41,043.60. This represents a 92.41 % decrease in their ownership of the stock. Insiders sold a total of 177,012 shares of company stock worth $16,687,218 in the last quarter. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM opened at C$88.05 on Friday. The company has a fifty day moving average of C$91.17 and a 200-day moving average of C$84.40. The company has a market capitalization of C$82.38 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52-week low of C$60.48 and a 52-week high of C$95.50.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were paid a dividend of $0.97 per share. The ex-dividend date was Friday, December 27th. This represents a $3.88 annualized dividend and a dividend yield of 4.41%. 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 (DPR) is presently 47.55%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.