Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$98.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target boosted by TD Securities from C$91.00 to C$98.00 in a research report released on Friday morning,BayStreet.CA reports.

Other analysts also recently issued reports about the stock. Desjardins boosted their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a research note on Friday, August 30th. BMO Capital Markets increased their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Jefferies Financial Group cut their price target on Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research note on Monday, August 12th. National Bankshares raised their price target on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Scotiabank upped their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$81.08.

Canadian Imperial Bank of Commerce Price Performance

The company has a market cap of C$84.78 billion, a P/E ratio of 12.99, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a fifty-two week low of C$51.60 and a fifty-two week high of C$90.57. The stock has a 50 day simple moving average of C$84.81 and a 200 day simple moving average of C$73.93.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. The company had revenue of C$6.60 billion during the quarter, compared to the consensus estimate of C$6.31 billion. As a group, analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of ∞. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 52.10%.

Insider Activity

In other news, Senior Officer Sandy Sharman sold 2,275 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$83.04, for a total value of C$188,916.00. Also, Director Harry Kenneth Culham sold 50,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of C$81.87, for a total value of C$4,093,500.00. In the last ninety days, insiders have sold 203,057 shares of company stock worth $16,823,249. Company 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.