Canadian Imperial Bank of Commerce (TSE:CM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$79.15.

A number of equities research analysts have commented on CM shares. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and raised their price objective for the company from C$74.00 to C$90.00 in a research note on Friday, August 30th. Jefferies Financial Group decreased their price target on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Desjardins raised their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a research note on Friday, August 30th. BMO Capital Markets upped their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, Barclays lifted their price target on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research note on Friday, August 30th.

Insider Activity at Canadian Imperial Bank of Commerce

In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total value of C$441,791.70. In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total value of C$441,791.70. Also, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$83.40, for a total transaction of C$3,087,634.80. In the last three months, insiders have sold 149,982 shares of company stock worth $12,397,023. Company insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at C$83.10 on Tuesday. The firm has a market cap of C$78.53 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52-week low of C$47.44 and a 52-week high of C$84.17. The business’s 50 day moving average price is C$74.57 and its two-hundred day moving average price is C$69.38.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, topping analysts’ consensus estimates of C$1.75 by C$0.18. The business had revenue of C$6.60 billion during the quarter, compared to analysts’ expectations of C$6.31 billion. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. Research analysts predict that Canadian Imperial Bank of Commerce will post 7.5778986 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Monday, October 28th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.33%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.10%.

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.