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

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$135.40.

Several equities research analysts have recently weighed in on the company. BMO Capital Markets upped their price target on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research report on Wednesday, December 17th. Royal Bank Of Canada upped their target price on shares of 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. Desjardins increased 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 note on Monday, February 9th. TD Securities boosted their price target on shares of Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research report on Monday, February 9th. Finally, 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.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at C$135.96 on Tuesday. The firm has a market capitalization of C$125.98 billion, a P/E ratio of 15.86, a PEG ratio of 3.03 and a beta of 1.26. Canadian Imperial Bank of Commerce has a one year low of C$76.17 and a one year high of C$137.24. The business has a fifty day moving average price of C$128.33 and a 200-day moving average price of C$118.68.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, December 4th. The company reported C$2.21 earnings per share (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 company had revenue of C$7.58 billion for the quarter. Sell-side 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 declared a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, December 29th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s payout ratio is 45.27%.

Insider Activity at Canadian Imperial Bank of Commerce

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 transaction of C$635,800.00. Following the completion of the transaction, the insider owned 1,359 shares of the company’s stock, valued at approximately C$172,810.44. The trade was a 78.63% decrease in their ownership of the stock. 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.