Canadian Imperial Bank of Commerce (TSE:CM) Receives Average Rating of “Hold” from Analysts

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received an average recommendation of “Hold” from the thirteen analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is C$69.27.

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Monday, June 3rd. Scotiabank boosted their target price on Canadian Imperial Bank of Commerce from C$73.00 to C$77.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. UBS Group set a C$70.00 target price on Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada boosted their target price on Canadian Imperial Bank of Commerce from C$68.00 to C$69.00 and gave the company a “sector perform” rating in a research report on Friday, May 31st. Finally, Jefferies Financial Group boosted their target price on Canadian Imperial Bank of Commerce from C$78.00 to C$79.00 and gave the company a “buy” rating in a research report on Thursday, June 6th.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, Senior Officer John Hountalas sold 20,808 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$65.97, for a total value of C$1,372,672.55. In other Canadian Imperial Bank of Commerce news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of C$67.50, for a total value of C$1,605,285.00. Also, Senior Officer John Hountalas sold 20,808 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$65.97, for a total transaction of C$1,372,672.55. Insiders own 0.03% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

CM stock opened at C$66.76 on Thursday. The firm has a market cap of C$62.57 billion, a PE ratio of 10.24, a PEG ratio of 3.01 and a beta of 1.11. The firm’s 50 day moving average price is C$66.38 and its 200-day moving average price is C$65.04. Canadian Imperial Bank of Commerce has a one year low of C$47.44 and a one year high of C$69.54.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, May 30th. The company reported C$1.75 EPS for the quarter, beating the consensus estimate of C$1.66 by C$0.09. The firm had revenue of C$6.16 billion for the quarter, compared to analyst estimates of C$6.11 billion. Canadian Imperial Bank of Commerce had a net margin of 29.50% and a return on equity of 12.14%. Equities research analysts predict that Canadian Imperial Bank of Commerce will post 6.7699387 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, June 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.39%. Canadian Imperial Bank of Commerce’s payout ratio is currently 55.21%.

Canadian Imperial Bank of Commerce Company Profile

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.