Brokerages Set Canadian Imperial Bank of Commerce (TSE:CM) PT at C$93.50

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$93.58.

Several brokerages have recently issued reports on CM. National Bankshares reduced their price target on Canadian Imperial Bank of Commerce from C$101.00 to C$95.00 and set an “outperform” rating for the company in a report on Monday. TD Securities decreased their target price on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Scotiabank dropped their price target on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. UBS Group reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research note on Friday, February 14th. Finally, Royal Bank of Canada set a C$108.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock an “outperform” rating in a research report on Monday, March 17th.

Canadian Imperial Bank of Commerce Trading Down 2.9 %

Shares of TSE:CM opened at C$78.29 on Friday. The business has a fifty day simple moving average of C$84.90 and a 200 day simple moving average of C$87.25. Canadian Imperial Bank of Commerce has a 1 year low of C$64.02 and a 1 year high of C$95.50. The firm has a market cap of C$73.25 billion, a price-to-earnings ratio of 10.34, a P/E/G ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, March 28th. This represents a $3.88 annualized dividend and a dividend yield of 4.96%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 47.55%.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, Senior Officer Sandy Sharman sold 1,027 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of C$81.27, for a total transaction of C$83,464.29. 0.02% of the stock is owned by corporate insiders.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.