Canaccord Genuity Group Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM - Free Report) NYSE: CM had its target price hoisted by Canaccord Genuity Group from C$92.00 to C$99.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

Several other research analysts also recently commented on the company. Royal Bank of Canada lifted their target price on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a "sector perform" rating in a report on Friday, August 30th. Barclays lifted their price objective on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an "underweight" rating in a research note on Friday, August 30th. Scotiabank increased their target price on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research report on Friday. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating and boosted their price target for the stock from C$74.00 to C$90.00 in a research report on Friday, August 30th. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$90.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM traded up C$0.81 during mid-day trading on Friday, reaching C$94.35. 5,755,073 shares of the company's stock were exchanged, compared to its average volume of 3,719,927. Canadian Imperial Bank of Commerce has a twelve month low of C$57.52 and a twelve month high of C$94.81. The firm has a market capitalization of C$89.16 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 3.03 and a beta of 1.12. The business's fifty day moving average price is C$87.10 and its 200-day moving average price is C$76.21.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a dividend of $0.97 per share. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.90. This represents a $3.88 dividend on an annualized basis and a yield of 4.11%. Canadian Imperial Bank of Commerce's dividend payout ratio is 52.10%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Senior Officer Christina Charlotte Kramer sold 37,022 shares of Canadian Imperial Bank of Commerce 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. Also, Director Harry Kenneth Culham sold 800 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of C$83.20, for a total value of C$66,560.00. Over the last quarter, insiders sold 197,527 shares of company stock valued at $16,381,457. Company insiders own 0.02% of the company's stock.

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.