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

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is C$95.92.

A number of equities research analysts have weighed in on CM shares. Scotiabank upgraded Canadian Imperial Bank of Commerce to a “strong-buy” rating in a research report on Thursday, May 15th. National Bankshares set a C$95.00 price objective on Canadian Imperial Bank of Commerce and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. TD Securities decreased their target price on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$100.00 to C$89.00 in a research report on Monday, April 21st. Finally, Barclays upped their price target on shares of Canadian Imperial Bank of Commerce from C$90.00 to C$94.00 and gave the company an “underperform” rating in a report on Monday, June 9th.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Senior Officer Christina Charlotte Kramer sold 43,490 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of C$93.07, for a total value of C$4,047,614.30. Also, Senior Officer Shawn Beber sold 9,107 shares of Canadian Imperial Bank of Commerce stock in a transaction on Friday, June 6th. The shares were sold at an average price of C$94.28, for a total value of C$858,567.89. Over the last ninety days, insiders sold 94,707 shares of company stock valued at $8,833,687. 0.02% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at C$93.78 on Thursday. Canadian Imperial Bank of Commerce has a 12-month low of C$64.63 and a 12-month high of C$96.45. The stock has a market capitalization of C$87.74 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The firm has a 50 day simple moving average of C$89.19 and a 200-day simple moving average of C$88.08.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Monday, July 28th will be issued a dividend of $0.97 per share. The ex-dividend date is Friday, June 27th. This represents a $3.88 annualized dividend and a yield of 4.14%. Canadian Imperial Bank of Commerce’s payout ratio is presently 47.55%.

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.