Royal Bank of Canada Raises Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$108.00

Canadian Imperial Bank of Commerce (TSE:CM - Free Report) NYSE: CM had its price objective boosted by Royal Bank of Canada from C$103.00 to C$108.00 in a report released on Friday,BayStreet.CA reports.

Several other research firms have also recently weighed in on CM. Cormark lifted their price objective on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. National Bankshares increased their price objective on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday, November 18th. Canaccord Genuity Group boosted their price target on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. Finally, UBS Group cut their price target on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$93.50.

Canadian Imperial Bank of Commerce Stock Down 4.1 %

Shares of CM traded down C$3.57 during trading hours on Friday, reaching C$83.10. The stock had a trading volume of 5,883,818 shares, compared to its average volume of 3,363,714. Canadian Imperial Bank of Commerce has a 52 week low of C$64.02 and a 52 week high of C$95.50. The company has a market cap of C$77.75 billion, a P/E ratio of 10.98, a P/E/G ratio of 3.03 and a beta of 1.12. The firm has a 50-day moving average of C$89.41 and a 200 day moving average of C$86.08.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 4.67%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 47.55%.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, Director Victor George Dodig sold 150,000 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of C$94.22, for a total transaction of C$14,132,865.00. Also, Senior Officer Susan Rimmer sold 1,000 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of C$93.14, for a total value of C$93,140.00. In the last three months, insiders sold 177,012 shares of company stock worth $16,687,218. 0.02% of the stock is owned by company insiders.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada's fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.