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

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$95.08.

Several research firms recently weighed in on CM. National Bankshares boosted their price objective on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. Scotiabank lifted their target price on Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a report on Friday, December 6th. TD Securities boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research report on Friday, November 15th. Canaccord Genuity Group lifted their target price on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. Finally, UBS Group raised their price target on Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research note on Monday, December 16th.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at C$90.66 on Monday. The firm has a market capitalization of C$85.67 billion, a P/E ratio of 13.12, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a one year low of C$59.53 and a one year high of C$95.50. The company has a 50-day simple moving average of C$91.22 and a 200-day simple moving average of C$81.45.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be paid a $0.97 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, December 27th. This represents a $3.88 annualized dividend and a yield of 4.28%. Canadian Imperial Bank of Commerce’s payout ratio is 52.10%.

Insiders Place Their Bets

In related 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 value of C$93,140.00. 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 value of C$14,132,865.00. Insiders have sold a total of 177,012 shares of company stock worth $16,687,218 in the last quarter. Corporate insiders own 0.02% of the company’s stock.

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.