Canadian Imperial Bank of Commerce (TSE:CM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has earned an average rating of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$146.45.

A number of research firms have weighed in on CM. Jefferies Financial Group boosted their target price on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research report on Wednesday, February 11th. Canaccord Genuity Group lifted their price objective on Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the stock a “hold” rating in a research note on Friday, February 27th. Scotiabank boosted their price objective on Canadian Imperial Bank of Commerce from C$138.00 to C$153.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Desjardins increased their target price 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. Finally, Royal Bank Of Canada raised their target price on Canadian Imperial Bank of Commerce from C$134.00 to C$158.00 and gave the company an “outperform” rating in a report on Friday, February 27th.

Insider Activity

In other news, insider Frank Guse sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total value of C$635,800.00. Following the sale, the insider owned 1,359 shares in the company, valued at approximately C$172,810.44. This trade represents a 78.63% decrease in their ownership of the stock. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 1.5%

Shares of Canadian Imperial Bank of Commerce stock opened at C$129.48 on Friday. The firm has a fifty day simple moving average of C$131.57 and a 200-day simple moving average of C$122.77. Canadian Imperial Bank of Commerce has a 1-year low of C$76.17 and a 1-year high of C$143.80. The stock has a market capitalization of C$119.17 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 3.03 and a beta of 1.32.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, February 26th. The company reported C$2.76 earnings per share (EPS) for the quarter. The business had revenue of C$8.40 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. As a group, research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 28th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 41.50%.

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.