Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$114.00

Canadian Imperial Bank of Commerce (TSE:CM - Free Report) NYSE: CM had its price objective boosted by Scotiabank from C$108.00 to C$114.00 in a research report report published on Friday,BayStreet.CA reports.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group upped their price target on Canadian Imperial Bank of Commerce from C$81.00 to C$92.00 in a research report on Tuesday, November 19th. National Bankshares upped their target price on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. Barclays lifted 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 report on Friday, August 30th. Cormark raised shares of Canadian Imperial Bank of Commerce from a "market perform" rating to a "buy" rating and upped their price objective for the stock from C$75.00 to C$83.00 in a research note on Friday, August 30th. Finally, 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 research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$90.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of TSE CM traded up C$0.81 during trading hours on Friday, reaching C$94.35. The stock had a trading volume of 5,755,073 shares, compared to its average volume of 3,719,927. The company has a market cap 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. Canadian Imperial Bank of Commerce has a twelve month low of C$57.52 and a twelve month high of C$94.81. The business's fifty day moving average is C$87.10 and its two-hundred day moving average is C$76.21.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be issued a $0.97 dividend. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.90. This represents a $3.88 annualized dividend and a yield of 4.11%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 52.10%.

Insider Activity at Canadian Imperial Bank of Commerce

In other news, Director Harry Kenneth Culham sold 50,000 shares of the company's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of C$81.87, for a total value of C$4,093,500.00. Also, Senior Officer Sandy Sharman sold 2,275 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$83.04, for a total transaction of C$188,916.00. Insiders sold a total of 197,527 shares of company stock worth $16,381,457 in the last quarter. Corporate 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.