Brokerages Set Canadian Imperial Bank of Commerce (TSE:CM) Target Price at C$92.67

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM has earned a consensus rating of "Moderate Buy" from the twelve research firms that are currently 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 issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$92.67.

A number of analysts recently weighed in on CM shares. BMO Capital Markets raised 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. UBS Group lifted their target price on Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a report on Monday, December 16th. TD Securities upped their target price on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. Scotiabank lifted their price target on Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research note on Friday, December 6th. Finally, Canaccord Genuity Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research note on Friday, December 6th.

Insider Buying and Selling

In related news, Senior Officer Frank Guse sold 5,360 shares of the company's stock in a transaction on Monday, December 9th. The shares were sold at an average price of C$93.28, for a total value of C$499,985.62. Following the completion of the sale, the insider now directly owns 440 shares in the company, valued at approximately C$41,043.60. This represents a 92.41 % decrease in their ownership of the stock. Also, Director Harry Kenneth Culham sold 800 shares of the firm's stock in a transaction dated 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 ninety days, insiders sold 177,812 shares of company stock worth $16,753,778. Corporate insiders own 0.02% of the company's stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM traded up C$0.22 during trading hours on Thursday, hitting C$92.53. 1,985,964 shares of the company's stock traded hands, compared to its average volume of 3,792,118. The company's fifty day simple moving average is C$89.93 and its two-hundred day simple moving average is C$78.64. The company has a market cap of C$87.44 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52 week low of C$59.53 and a 52 week high of C$95.50.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Tuesday, January 28th will be paid a $0.97 dividend. The ex-dividend date is Friday, December 27th. 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 dividend yield of 4.19%. Canadian Imperial Bank of Commerce's dividend payout ratio is 52.10%.

About Canadian Imperial Bank of Commerce

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.