Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$142.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target hoisted by TD Securities from C$134.00 to C$142.00 in a research report sent to investors on Monday,BayStreet.CA reports.

CM has been the topic of several other research reports. Royal Bank Of Canada boosted their price target on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Desjardins raised their price objective on shares of Canadian Imperial Bank of Commerce from C$132.00 to C$135.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Jefferies Financial Group upped their price objective on Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the stock a “hold” rating in a research note on Tuesday, November 25th. Scotiabank upped their target price on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research report on Friday, January 9th. Finally, National Bank Financial raised their price target on shares of Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the stock a “sector perform” rating in a research note on Friday, December 5th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average target price of C$128.00.

Canadian Imperial Bank of Commerce Trading Down 1.0%

Shares of CM stock opened at C$131.59 on Monday. The stock has a market capitalization of C$121.93 billion, a P/E ratio of 15.35, a PEG ratio of 3.03 and a beta of 1.26. Canadian Imperial Bank of Commerce has a 12 month low of C$76.17 and a 12 month high of C$133.80. The firm’s 50 day moving average is C$127.37 and its 200 day moving average is C$116.69.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 EPS for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. The firm had revenue of C$7.58 billion during the quarter. On average, equities analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, December 29th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.27%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, insider Frank Guse sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total value of C$635,800.00. Following the sale, the insider directly owned 1,359 shares of the company’s stock, valued at C$172,810.44. This represents a 78.63% decrease in their ownership of the stock. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.