Canadian Imperial Bank of Commerce (TSE:CM) Stock Gets Price Target Reduction from TD

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective decreased by TD from C$175.00 to C$174.00 in a report issued on Thursday morning,BayStreet reports. TD currently has a buy rating on the stock.

CM has been the subject of several other research reports. National Bank Financial set a C$180.00 target price on Canadian Imperial Bank of Commerce and gave the stock a “sector perform” rating in a research note on Monday, August 24th. Keefe, Bruyette & Woods set a C$186.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company a “hold” rating in a research report on Friday, August 21st. Desjardins set a C$170.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock a “hold” rating in a research note on Wednesday. Canaccord Genuity Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the stock a “hold” rating in a report on Friday, August 28th. Finally, Jefferies Financial Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$154.00 in a research note on Thursday, September 3rd. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$167.71.

Canadian Imperial Bank of Commerce Stock Down 0.3%

Shares of CM stock opened at C$164.99 on Thursday. The business has a 50-day moving average price of C$160.32 and a two-hundred day moving average price of C$152.77. Canadian Imperial Bank of Commerce has a 12-month low of C$116.65 and a 12-month high of C$172.87. The firm has a market cap of C$149.80 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 3.03 and a beta of 1.23.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, August 27th. The company reported C$2.73 EPS for the quarter. The firm had revenue of C$8.37 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 6.41 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Wednesday, October 28th were issued a dividend of $1.07 per share. The ex-dividend date was Monday, September 28th. This represents a $4.28 annualized dividend and a yield of 2.6%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 40.12%.

Insiders Place Their Bets

In related news, insider Amy Florence South sold 4,218 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of C$161.41, for a total transaction of C$680,827.38. 0.02% of the stock is owned by corporate insiders.

About Canadian Imperial Bank of Commerce

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, 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.