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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price raised by Raymond James Financial from C$122.00 to C$135.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. They currently have a market perform rating on the stock.

CM has been the subject of several other reports. National Bank Financial increased their price objective on shares of Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the stock a “sector perform” rating in a research report on Friday, December 5th. Barclays increased their price target on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a report on Monday, December 8th. Desjardins boosted their price objective on Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Scotiabank upped their target price on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research report on Friday, January 9th. Finally, Royal Bank Of Canada lifted their target price on Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and an average price target of C$134.30.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at C$131.74 on Tuesday. The business has a 50-day moving average of C$127.76 and a 200-day moving average of C$117.68. The company has a market capitalization 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 EPS for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%.The business had revenue of C$7.58 billion for the quarter. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

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

Insider Buying and Selling

In other news, insider Frank Guse sold 5,000 shares of the company’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 transaction of C$635,800.00. Following the transaction, the insider directly owned 1,359 shares of the company’s stock, valued at C$172,810.44. This represents a 78.63% decrease in their ownership of the stock. Company insiders own 0.02% of the company’s stock.

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.