UBS Group Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM - Free Report) NYSE: CM had its target price boosted by UBS Group from C$94.00 to C$102.00 in a research report released on Monday morning,BayStreet.CA reports.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a "sector perform" rating in a research note on Friday, August 30th. Cormark increased their price target on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th. National Bankshares lifted their price objective on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. TD Securities increased their target price on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research note on Friday, November 15th. Finally, Canaccord Genuity Group raised their target price on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of "Moderate Buy" and an average target price of C$92.67.

Canadian Imperial Bank of Commerce Stock Up 0.1 %

TSE:CM traded up C$0.08 during trading hours on Monday, hitting C$94.28. 4,162,296 shares of the stock were exchanged, compared to its average volume of 3,722,868. The company has a market capitalization of C$89.09 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The company's 50 day moving average is C$88.20 and its two-hundred day moving average is C$77.16. 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 declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, December 27th. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.90. This represents a $3.88 annualized dividend and a yield of 4.12%. Canadian Imperial Bank of Commerce's dividend payout ratio is 52.10%.

Insiders Place Their Bets

In other news, Senior Officer Robert Sedran sold 20,652 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$94.97, for a total transaction of C$1,961,227.51. Also, Director Harry Kenneth Culham sold 800 shares of the company's stock in a transaction on Monday, September 30th. The shares were sold at an average price of C$83.20, for a total transaction of C$66,560.00. Insiders have sold 226,812 shares of company stock valued at $20,831,388 in the last 90 days. 0.02% of the stock is currently owned by insiders.

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.