UBS Group Forecasts Strong Price Appreciation for Canadian Imperial Bank of Commerce (TSE:CM) Stock

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

A number of other research firms have also recently weighed in on CM. National Bankshares raised their price target on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. Scotiabank raised their target price on Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research report on Friday, December 6th. Barclays increased 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 research note on Friday, August 30th. Royal Bank of Canada boosted their price objective 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 report on Friday, August 30th. Finally, BMO Capital Markets increased their target price on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. One research 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. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and a consensus target price of C$92.67.

Canadian Imperial Bank of Commerce Trading Up 0.1 %

Shares of CM opened at C$94.28 on Monday. The firm has a market capitalization of C$89.09 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 3.03 and a beta of 1.12. The firm’s fifty day simple moving average is C$88.42 and its 200-day simple moving average is C$77.35. 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 firm also recently disclosed 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 is Friday, December 27th. This is a positive change 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 yield of 4.12%. Canadian Imperial Bank of Commerce’s payout ratio is currently 52.10%.

Insider Activity

In other Canadian Imperial Bank of Commerce news, Director Harry Kenneth Culham sold 50,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of C$83.42, for a total value of C$4,170,750.00. Also, Senior Officer Robert Sedran sold 20,652 shares of the stock in a transaction dated 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. Over the last three months, insiders sold 226,812 shares of company stock valued at $20,831,388. Insiders own 0.02% of the company’s stock.

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.