Shares of Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) have received an average rating of “Hold” from the twelve analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$69.21.
A number of equities research analysts have recently issued reports on CM shares. TD Securities raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$65.00 to C$70.00 in a research report on Friday, March 1st. Royal Bank of Canada raised their price objective on Canadian Imperial Bank of Commerce from C$68.00 to C$69.00 and gave the stock a “sector perform” rating in a research note on Friday, May 31st. Barclays lifted their price objective on Canadian Imperial Bank of Commerce from C$70.00 to C$71.00 and gave the company an “underweight” rating in a research report on Friday, May 31st. National Bankshares increased their target price on shares of Canadian Imperial Bank of Commerce from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Finally, Canaccord Genuity Group lifted their price target on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$67.00 and gave the company a “hold” rating in a report on Friday, March 1st.
Check Out Our Latest Stock Report on Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce Trading Down 1.0 %
Canadian Imperial Bank of Commerce Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 5.51%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 55.21%.
Insider Activity
In other Canadian Imperial Bank of Commerce news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of C$67.50, for a total value of C$1,605,285.00. Company insiders own 0.03% of the company’s stock.
About Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.
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