Desjardins Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target increased by Desjardins from C$135.00 to C$139.00 in a research note issued to investors on Monday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on the company. TD Securities lifted their target price on Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research note on Monday. Raymond James Financial raised their price target on shares of Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the stock a “market perform” rating in a report on Friday, December 5th. BMO Capital Markets boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research report on Wednesday, December 17th. Scotiabank increased their target price on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research report on Friday, January 9th. Finally, Jefferies Financial Group lifted their target price on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the company a “hold” rating in a research note on Tuesday, November 25th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$127.18.

Canadian Imperial Bank of Commerce Stock Up 0.6%

CM opened at C$132.94 on Monday. The firm has a market capitalization of C$123.18 billion, a P/E ratio of 15.51, a PEG ratio of 3.03 and a beta of 1.26. The stock has a fifty day moving average of C$126.92 and a 200-day moving average of C$116.37. Canadian Imperial Bank of Commerce has a 12-month low of C$76.17 and a 12-month high of C$133.22.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share for the quarter. The business had revenue of C$7.58 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%. On average, analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 3.2%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date was Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 45.27%.

Insider Buying and Selling

In other news, insider Frank Guse sold 5,000 shares of the stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the transaction, the insider owned 1,359 shares in the company, valued at C$172,810.44. This represents a 78.63% decrease in their position. 0.02% of the stock is owned by corporate insiders.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.