Canadian Imperial Bank of Commerce (TSE:CM) Given a C$108.00 Price Target by Royal Bank of Canada Analysts

Royal Bank of Canada set a C$108.00 target price on Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) in a report issued on Monday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other research firms have also recently commented on CM. National Bankshares raised their price target on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. BMO Capital Markets raised their price target on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday, November 18th. UBS Group decreased their price target on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. TD Securities decreased their price target on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Scotiabank decreased their price target on Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$93.50.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at C$81.71 on Monday. Canadian Imperial Bank of Commerce has a one year low of C$64.02 and a one year high of C$95.50. The stock’s fifty day moving average is C$87.58 and its 200 day moving average is C$86.74. The stock has a market cap of C$76.45 billion, a P/E ratio of 10.79, a P/E/G ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Monday, April 28th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $3.88 annualized dividend and a dividend yield of 4.75%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 47.55%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Senior Officer Susan Rimmer sold 1,000 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$93.14, for a total transaction of C$93,140.00. Company insiders own 0.02% of the company’s stock.

About Canadian Imperial Bank of Commerce

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.