Canadian Imperial Bank of Commerce (TSE:CM) Receives Average Rating of "Moderate Buy" from Analysts

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 presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$95.08.

Several research firms recently commented on CM. BMO Capital Markets raised their price target on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. Canaccord Genuity Group raised their target price on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. TD Securities boosted their price objective on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research report on Friday, November 15th. Cormark boosted their price target on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. 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 report on Wednesday, November 20th.

Canadian Imperial Bank of Commerce Stock Down 0.0 %

Shares of TSE CM traded down C$0.03 during midday trading on Monday, reaching C$90.63. 843,031 shares of the stock were exchanged, compared to its average volume of 3,746,865. The firm has a market cap of C$85.64 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 3.03 and a beta of 1.12. The firm has a 50-day simple moving average of C$91.22 and a two-hundred day simple moving average of C$81.45. Canadian Imperial Bank of Commerce has a twelve month low of C$59.53 and a twelve month high of C$95.50.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be paid a $0.97 dividend. The ex-dividend date of this dividend 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 4.28%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 52.10%.

Insider Activity

In other news, Senior Officer Susan Rimmer sold 1,000 shares of the company's stock in a transaction on Thursday, December 19th. The stock was sold at an average price of C$93.14, for a total value of C$93,140.00. Also, Senior Officer Frank Guse sold 5,360 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$93.28, for a total value of C$499,985.62. Following the transaction, the insider now owns 440 shares of the company's stock, valued at approximately C$41,043.60. This represents a 92.41 % decrease in their ownership of the stock. In the last quarter, insiders have sold 177,012 shares of company stock valued at $16,687,218. 0.02% of the stock is currently owned by insiders.

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.