UBS Group Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective raised by UBS Group from C$94.00 to C$102.00 in a report published on Monday morning,BayStreet.CA reports.

CM has been the topic of several other reports. BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and increased their price objective for the company from C$74.00 to C$90.00 in a report on Friday, August 30th. Cormark lifted their target price on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. Desjardins increased their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada lifted their price objective 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus price target of C$92.67.

Canadian Imperial Bank of Commerce Stock Up 0.1 %

CM stock opened at C$94.28 on Monday. The stock has a market capitalization of C$89.09 billion, a PE ratio of 13.64, 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$59.53 and a 52 week high of C$95.50. The firm has a 50 day moving average of C$88.42 and a 200 day moving average of C$77.35.

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 paid a dividend of $0.97 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. This represents a $3.88 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.10%.

Insider Activity

In related 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 value of C$1,961,227.51. Also, Senior Officer Frank Guse sold 5,360 shares of the company’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 transaction, the insider now 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 have sold 226,812 shares of company stock worth $20,831,388 in the last ninety days. Company 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.