Canadian Imperial Bank of Commerce (TSE:CM) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM have received an average recommendation of "Moderate Buy" from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is C$93.58.

Several analysts have commented on the stock. Scotiabank decreased their price target on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada set a C$108.00 target price on Canadian Imperial Bank of Commerce and gave the stock an "outperform" rating in a research report on Monday, March 17th. National Bankshares cut their price target on Canadian Imperial Bank of Commerce from C$101.00 to C$95.00 and set an "outperform" rating for the company in a report on Monday. UBS Group decreased their price objective on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. Finally, TD Securities reduced their price target on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a "buy" rating on the stock in a research report on Friday, February 28th.

Canadian Imperial Bank of Commerce Trading Up 3.7 %

TSE CM traded up C$2.88 on Friday, reaching C$80.69. 8,051,340 shares of the stock were exchanged, compared to its average volume of 4,250,685. Canadian Imperial Bank of Commerce has a one year low of C$64.02 and a one year high of C$95.50. The firm has a market capitalization of C$75.49 billion, a PE ratio of 10.66, a PEG ratio of 3.03 and a beta of 1.12. The company's 50-day simple moving average is C$83.85 and its two-hundred day simple moving average is C$87.16.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a $0.97 dividend. The ex-dividend date is Friday, March 28th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.81%. Canadian Imperial Bank of Commerce's payout ratio is presently 47.55%.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, Senior Officer Sandy Sharman sold 1,027 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$81.27, for a total value of C$83,464.29. 0.02% of the stock is currently owned by corporate insiders.

About Canadian Imperial Bank of Commerce

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.