Canadian Imperial Bank of Commerce (TSE:CM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$92.67.

CM has been the subject of a number of research reports. TD Securities upped their price objective on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research report on Friday, November 15th. Desjardins increased their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Cormark boosted their target price on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 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 stock an “underweight” rating in a research report on Friday, August 30th. Finally, UBS Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research report on Monday, December 16th.

Insider Buying and Selling

In other news, Senior Officer Frank Guse sold 5,360 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of C$93.28, for a total transaction of C$499,985.62. Following the completion of the transaction, the insider now directly owns 440 shares in the company, valued at approximately C$41,043.60. This represents a 92.41 % decrease in their position. Also, Senior Officer Susan Rimmer sold 1,000 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of C$93.14, for a total transaction of C$93,140.00. Over the last 90 days, insiders sold 177,812 shares of company stock worth $16,753,778. 0.02% of the stock is owned by corporate insiders.

Canadian Imperial Bank of Commerce Trading Up 0.2 %

TSE:CM opened at C$92.53 on Thursday. The company has a market cap of C$87.44 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The company has a 50 day simple moving average of C$89.73 and a two-hundred day simple moving average of C$78.44. Canadian Imperial Bank of Commerce has a 12 month low of C$59.53 and a 12 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. Stockholders of record on Friday, December 27th will be paid a $0.97 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, December 27th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.19%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 52.10%.

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.