Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$102.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price boosted by UBS Group from C$94.00 to C$102.00 in a research report released on Monday morning,BayStreet.CA reports.

A number of other analysts have also recently issued reports on the stock. National Bankshares lifted their target price on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research note on Wednesday, November 20th. TD Securities lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research note on Friday, November 15th. Desjardins upped their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Cormark raised their target price on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. Finally, Royal Bank of Canada upped their price target on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average price target of C$92.67.

Canadian Imperial Bank of Commerce Price Performance

CM opened at C$92.54 on Monday. The company has a market capitalization of C$87.45 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a fifty-two week low of C$59.53 and a fifty-two week high of C$95.50. The business has a 50-day moving average of C$88.88 and a 200-day moving average of C$77.72.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $3.88 dividend on an annualized basis and a yield of 4.19%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. Canadian Imperial Bank of Commerce’s payout ratio is 52.10%.

Insider Activity at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Director Harry Kenneth Culham sold 800 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of C$83.20, for a total value of C$66,560.00. Also, Senior Officer Robert Sedran sold 20,652 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of C$94.97, for a total value of C$1,961,227.51. Insiders sold a total of 226,812 shares of company stock worth $20,831,388 in the last ninety days. 0.02% of the stock is currently owned by insiders.

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.