Analysts Set Canadian Imperial Bank of Commerce (TSE:CM) Price Target at C$79.15

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM has been given an average rating of "Moderate Buy" by the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$79.15.

CM has been the subject of several analyst reports. National Bankshares raised their target price on Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the stock an "outperform" rating in a research note on Friday, August 30th. Jefferies Financial Group reduced their price objective 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. Scotiabank raised their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an "outperform" rating in a report on Friday, August 30th. TD Securities decreased their price target on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a "buy" rating on the stock in a report on Friday, August 30th. Finally, Desjardins lifted their price objective on 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.

Insider Activity

In other news, Director Harry Kenneth Culham sold 800 shares of the firm's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of C$83.20, for a total transaction of C$66,560.00. In other Canadian Imperial Bank of Commerce news, Director Harry Kenneth Culham sold 800 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of C$83.20, for a total transaction of C$66,560.00. Also, Senior Officer Shawn Beber sold 10,000 shares of the firm's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of C$81.80, for a total transaction of C$817,960.00. In the last 90 days, insiders sold 203,057 shares of company stock valued at $16,823,249. Corporate insiders own 0.02% of the company's stock.

Canadian Imperial Bank of Commerce Trading Up 0.4 %

Shares of CM stock traded up C$0.37 during trading on Wednesday, reaching C$88.60. 4,911,986 shares of the company's stock traded hands, compared to its average volume of 3,761,691. The firm's 50-day moving average is C$82.54 and its 200 day moving average is C$72.59. The company has a market capitalization of C$83.72 billion, a P/E ratio of 12.77, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1 year low of C$51.43 and a 1 year high of C$89.18.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last posted its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.75 by C$0.18. The firm had revenue of C$6.60 billion for the quarter, compared to the consensus estimate of C$6.31 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. As a group, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Friday, September 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) 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.