Jefferies Financial 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 upped by Jefferies Financial Group from C$123.00 to C$127.00 in a research report sent to investors on Wednesday,BayStreet.CA reports.

CM has been the subject of a number of other reports. Scotiabank increased their price objective on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a report on Friday, January 9th. Royal Bank Of Canada lifted their price objective 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 report on Monday, January 5th. BMO Capital Markets boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research report on Wednesday, December 17th. Desjardins raised their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a research report on Monday. Finally, Raymond James Financial lifted their price target on shares of Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the company a “market perform” rating in a research note on Friday, December 5th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$128.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at C$131.59 on Wednesday. The firm has a market cap 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 twelve month low of C$76.17 and a twelve month high of C$133.80. The firm’s 50 day moving average price is C$127.37 and its two-hundred day moving average price is C$116.69.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Thursday, December 4th. The company reported C$2.21 EPS for the quarter. The business had revenue of C$7.58 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. On average, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

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

Insider Activity at Canadian Imperial Bank of Commerce

In other news, insider Frank Guse sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the transaction, the insider directly owned 1,359 shares in the company, valued at C$172,810.44. The trade was a 78.63% decrease in their position. 0.02% of the stock is currently owned by company 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 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.