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

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have earned an average rating of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$93.50.

Several brokerages have recently weighed in on CM. Canaccord Genuity Group raised their price target on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. TD Securities reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Scotiabank dropped their target price on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. UBS Group reduced their price target on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. Finally, Cormark boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th.

Insider Activity at Canadian Imperial Bank of Commerce

In other news, Senior Officer Sandy Sharman sold 1,027 shares of Canadian Imperial Bank of Commerce stock in a transaction on Friday, March 21st. The shares were sold at an average price of C$81.27, for a total transaction of C$83,464.29. 0.02% of the stock is owned by company insiders.

Canadian Imperial Bank of Commerce Stock Performance

CM stock opened at C$80.66 on Friday. The firm has a 50 day moving average price of C$85.16 and a 200-day moving average price of C$87.28. Canadian Imperial Bank of Commerce has a 52-week low of C$64.02 and a 52-week high of C$95.50. The firm has a market capitalization of C$75.46 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 4.81%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is currently 47.55%.

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.