Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$136.00 at Canaccord Genuity Group

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price lifted by Canaccord Genuity Group from C$129.00 to C$136.00 in a research note published on Thursday morning,BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

Several other brokerages have also recently commented on CM. BMO Capital Markets upped their target price on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research report on Wednesday, December 17th. National Bank Financial lifted their price objective on Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the stock a “sector perform” rating in a research note on Friday, December 5th. Barclays increased their target price on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research note on Monday, December 8th. Royal Bank Of Canada raised 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. Finally, Jefferies Financial Group upped their price target on Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research note on Wednesday. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$130.27.

Canadian Imperial Bank of Commerce Trading Down 1.4%

Canadian Imperial Bank of Commerce stock opened at C$129.78 on Thursday. The company has a market cap of C$120.26 billion, a PE ratio of 15.14, a PEG 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. The company’s 50-day moving average is C$127.44 and its two-hundred day moving average is C$116.78.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. The business had revenue of C$7.58 billion during the quarter. Research analysts forecast 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 announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th were issued a dividend of $1.07 per share. 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. This represents a $4.28 dividend on an annualized basis and a yield of 3.3%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.27%.

Insider Activity

In other news, insider Frank Guse sold 5,000 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 1,359 shares in the company, valued at 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 corporate 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.