Investment Analysts’ Recent Ratings Changes for Canadian Imperial Bank of Commerce (CM)

Several analysts have recently updated their ratings and price targets for Canadian Imperial Bank of Commerce (TSE: CM):

• 8/13/2024 – Canadian Imperial Bank of Commerce had its price target raised by analysts at Canaccord Genuity Group Inc. from C$74.00 to C$75.00.
• 8/12/2024 – Canadian Imperial Bank of Commerce had its price target lowered by analysts at Jefferies Financial Group Inc. from C$79.00 to C$78.00. They now have a “buy” rating on the stock.
• 8/8/2024 – Canadian Imperial Bank of Commerce had its price target raised by analysts at TD Securities from C$76.00 to C$83.00.
• 8/2/2024 – Canadian Imperial Bank of Commerce was upgraded by analysts at Desjardins from a “hold” rating to a “moderate buy” rating. They now have a C$77.00 price target on the stock, up previously from C$71.00.
• 7/2/2024 – Canadian Imperial Bank of Commerce was given a new C$70.00 price target on by analysts at UBS Group AG. They now have a “neutral” rating on the stock.

Canadian Imperial Bank of Commerce Stock Up 0.5 %

Canadian Imperial Bank of Commerce stock traded up C$0.37 during mid-day trading on Tuesday, hitting C$70.06. The company’s stock had a trading volume of 740,706 shares, compared to its average volume of 3,779,313. The stock has a market capitalization of C$65.67 billion, a P/E ratio of 10.75, a P/E/G ratio of 3.01 and a beta of 1.11. Canadian Imperial Bank of Commerce has a twelve month low of C$47.44 and a twelve month high of C$71.77. The stock’s fifty day moving average price is C$67.57 and its two-hundred day moving average price is C$66.11.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, May 30th. The company reported C$1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.66 by C$0.09. The business had revenue of C$6.16 billion during 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 analysts expect that Canadian Imperial Bank of Commerce will post 6.7699387 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Friday, June 28th were paid a $0.90 dividend. The ex-dividend date was Friday, June 28th. This represents a $3.60 dividend on an annualized basis and a yield of 5.14%. Canadian Imperial Bank of Commerce’s payout ratio is currently 55.21%.

Insider Activity at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer John Hountalas sold 20,808 shares of the company’s stock in a transaction dated 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. In related news, Senior Officer John Hountalas sold 20,808 shares of the stock in a transaction that occurred 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. Also, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the 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 transaction of C$1,605,285.00. 0.03% of the stock is currently owned by insiders.

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.