Canadian Imperial Bank of Commerce (TSE:CM) Given Average Recommendation of “Moderate Buy” by Analysts

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$93.00.

CM has been the subject of a number of recent research reports. National Bankshares boosted their target price on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. UBS Group cut 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. 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 report on Monday, November 18th. TD Securities boosted their price target on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research note on Friday, November 15th. Finally, Cormark raised their price objective on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th.

Canadian Imperial Bank of Commerce Stock Down 0.6 %

Shares of CM stock opened at C$87.37 on Friday. The business has a 50-day moving average price of C$90.48 and a two-hundred day moving average price of C$85.18. Canadian Imperial Bank of Commerce has a 12-month low of C$62.21 and a 12-month high of C$95.50. The firm has a market cap of C$81.74 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were given a $0.97 dividend. 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 dividend yield of 4.44%. The ex-dividend date was Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 47.55%.

Insider Activity

In other Canadian Imperial Bank of Commerce news, Senior Officer Frank Guse sold 5,360 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$93.28, for a total value of C$499,985.62. Following the completion of the sale, the insider now directly owns 440 shares in the company, valued at C$41,043.60. This trade represents a 92.41 % decrease in their ownership of the stock. Also, Senior Officer Robert Sedran sold 20,652 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$94.97, for a total value of C$1,961,227.51. Over the last three months, insiders have sold 177,012 shares of company stock valued at $16,687,218. Company insiders own 0.02% of the company’s stock.

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.