Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective boosted by BMO Capital Markets from C$81.00 to C$99.00 in a research note released on Monday morning,BayStreet.CA reports.

CM has been the subject of several other reports. Jefferies Financial Group decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a report on Monday, August 12th. National Bankshares raised their price objective on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Desjardins lifted their price objective on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Royal Bank of Canada increased their target price on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a research report on Friday, August 30th. Finally, Scotiabank lifted their price target on Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$83.00.

Canadian Imperial Bank of Commerce Price Performance

CM opened at C$91.11 on Monday. The stock’s 50 day simple moving average is C$85.47 and its 200 day simple moving average is C$74.46. The firm has a market cap of C$86.10 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1 year low of C$51.60 and a 1 year high of C$91.39.

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

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a yield of 3.95%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.10%.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, Director Harry Kenneth Culham sold 800 shares of the company’s stock in a transaction that occurred 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. Also, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total transaction of C$441,791.70. Insiders sold 203,057 shares of company stock valued at $16,823,249 over the last 90 days. 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.