Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$108.00 at Royal Bank of Canada

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price raised by Royal Bank of Canada from C$103.00 to C$108.00 in a report released on Friday morning,BayStreet.CA reports.

Several other research firms have also issued reports on CM. UBS Group reduced their target price on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. TD Securities upped their target price on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. Canaccord Genuity Group upped their target price on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday, November 18th. Finally, National Bankshares upped their target price on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$93.50.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at C$87.67 on Friday. The stock has a 50 day moving average price of C$89.71 and a two-hundred day moving average price of C$85.86. The firm has a market capitalization of C$82.02 billion, a P/E ratio of 11.58, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52 week low of C$63.20 and a 52 week high of C$95.50.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 4.43%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 47.55%.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Frank Guse sold 5,360 shares of the stock in a transaction on Monday, December 9th. The stock was 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 owns 440 shares in the company, valued at approximately C$41,043.60. This represents a 92.41 % decrease in their position. Also, Director Victor George Dodig sold 150,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of C$94.22, for a total value of C$14,132,865.00. Insiders sold 177,012 shares of company stock worth $16,687,218 in the last three months. Corporate 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.