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Canadian Imperial Bank of Commerce (TSE:CM) Receives C$87.17 Average PT from Analysts

Canadian Imperial Bank of Commerce logo with Financial Services background

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM has earned an average recommendation of "Moderate Buy" from the twelve analysts that are currently covering the firm, Marketbeat reports. One research 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. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$87.17.

CM has been the topic of several research reports. TD Securities raised their price objective on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. Bank of America raised Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating and lifted their price target for the stock from C$74.00 to C$90.00 in a research report on Friday, August 30th. Scotiabank increased their price objective on Canadian Imperial Bank of Commerce from C$85.00 to C$108.00 in a report on Monday, November 25th. BMO Capital Markets lifted their target price on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday, November 18th. Finally, Barclays upped their price target on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an "underweight" rating in a research report on Friday, August 30th.

Get Our Latest Report on CM

Canadian Imperial Bank of Commerce Price Performance

Shares of CM traded up C$0.46 during midday trading on Friday, reaching C$90.88. The stock had a trading volume of 3,810,012 shares, compared to its average volume of 3,671,453. The company has a market cap of C$85.88 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 3.03 and a beta of 1.12. The company's fifty day simple moving average is C$86.51 and its two-hundred day simple moving average is C$75.55. Canadian Imperial Bank of Commerce has a 1-year low of C$54.46 and a 1-year high of C$92.17.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last announced its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$1.75 by C$0.18. The firm had revenue of C$6.60 billion during 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%. On average, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were given a $0.90 dividend. The ex-dividend date was Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a yield of 3.96%. Canadian Imperial Bank of Commerce's payout ratio is currently 52.10%.

Insiders Place Their Bets

In related news, Director Harry Kenneth Culham sold 50,000 shares of the firm's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of C$83.42, for a total value of C$4,170,750.00. Also, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the business's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total transaction of C$441,791.70. In the last 90 days, insiders have sold 203,057 shares of company stock worth $16,823,249. Company insiders own 0.02% of the company's stock.

Canadian Imperial Bank of Commerce Company Profile

(Get Free Report

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.

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