Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$131.00 at National Bank Financial

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price lifted by National Bank Financial from C$128.00 to C$131.00 in a report published on Tuesday morning,BayStreet.CA reports. National Bank Financial currently has a sector perform rating on the stock.

Several other brokerages have also issued reports on CM. Desjardins upped their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Canaccord Genuity Group upped their price objective on Canadian Imperial Bank of Commerce from C$129.00 to C$136.00 and gave the stock a “hold” rating in a report on Thursday, February 12th. Jefferies Financial Group increased their price objective on Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research report on Wednesday, February 11th. Raymond James Financial boosted their target price on Canadian Imperial Bank of Commerce from C$122.00 to C$135.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, Barclays increased their price target on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research report on Monday, December 8th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Hold” and an average price target of C$134.30.

Canadian Imperial Bank of Commerce Trading Up 0.9%

CM stock opened at C$131.74 on Tuesday. The company’s 50 day moving average is C$127.76 and its 200 day moving average is C$117.68. The stock has a market cap of C$122.07 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26. Canadian Imperial Bank of Commerce has a 1-year low of C$76.17 and a 1-year high of C$133.80.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. The business had revenue of C$7.58 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. As a group, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Wednesday, January 28th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, December 29th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s dividend payout ratio is 45.27%.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, insider Frank Guse sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total value of C$635,800.00. Following the completion of the sale, the insider owned 1,359 shares in the company, valued at approximately C$172,810.44. The trade was a 78.63% decrease in their ownership of the stock. 0.02% of the stock is owned by company insiders.

About Canadian Imperial Bank of Commerce

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.