Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$83.00 at TD Securities

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target increased by TD Securities from C$76.00 to C$83.00 in a report issued on Thursday, BayStreet.CA reports.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Canadian Imperial Bank of Commerce from C$68.00 to C$69.00 and gave the company a sector perform rating in a research note on Friday, May 31st. Scotiabank increased 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 note on Friday, May 31st. Barclays lifted their target price on Canadian Imperial Bank of Commerce from C$70.00 to C$71.00 and gave the stock an underweight rating in a report on Friday, May 31st. Jefferies Financial Group upped their price target on Canadian Imperial Bank of Commerce from C$78.00 to C$79.00 and gave the company a buy rating in a report on Thursday, June 6th. Finally, Keefe, Bruyette & Woods raised Canadian Imperial Bank of Commerce from a hold rating to a moderate buy rating in a research report on Monday, June 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of C$71.00.

Canadian Imperial Bank of Commerce Trading Up 0.6 %

CM traded up C$0.41 during midday trading on Thursday, reaching C$69.94. The company’s stock had a trading volume of 3,839,003 shares, compared to its average volume of 3,807,768. Canadian Imperial Bank of Commerce has a 1 year low of C$47.44 and a 1 year high of C$71.77. The stock’s 50-day moving average is C$67.49 and its 200-day moving average is C$65.93. The firm has a market capitalization of C$65.55 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 3.01 and a beta of 1.11.

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

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Friday, June 28th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 5.15%. The ex-dividend date was Friday, June 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 55.21%.

Insider Transactions at Canadian Imperial Bank of Commerce

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 dated 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. 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 that occurred 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 firm’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. 0.03% of the stock is currently owned by company insiders.

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.