Canadian Imperial Bank of Commerce (TSE:CM) PT Raised to C$149.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective increased by Credit Suisse Group to C$149.00 in a report released on Monday, The Fly reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the company. Scotiabank lifted their target price on Canadian Imperial Bank of Commerce from C$156.00 to C$157.00 and gave the stock an outperform rating in a report on Friday, May 28th. TD Securities boosted their price target on Canadian Imperial Bank of Commerce from C$145.00 to C$150.00 and gave the company a buy rating in a report on Friday, May 28th. Canaccord Genuity boosted their price target on Canadian Imperial Bank of Commerce from C$138.00 to C$149.00 and gave the company a buy rating in a report on Friday, May 28th. CSFB boosted their price target on Canadian Imperial Bank of Commerce from C$142.00 to C$149.00 in a report on Monday. Finally, Royal Bank of Canada lifted their target price on Canadian Imperial Bank of Commerce from C$141.00 to C$157.00 and gave the company an outperform rating in a research report on Friday, May 28th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Canadian Imperial Bank of Commerce currently has an average rating of Buy and an average target price of C$152.12.

Shares of Canadian Imperial Bank of Commerce stock opened at C$144.18 on Monday. Canadian Imperial Bank of Commerce has a 12 month low of C$89.42 and a 12 month high of C$146.05. The business’s fifty day moving average is C$131.73. The firm has a market capitalization of C$64.75 billion and a PE ratio of 12.15.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, May 27th. The company reported C$3.59 EPS for the quarter, topping analysts’ consensus estimates of C$2.82 by C$0.77. The company had revenue of C$4.93 billion for the quarter, compared to analyst estimates of C$4.72 billion. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 13.6321947 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 28th. Stockholders of record on Monday, June 28th will be given a $1.46 dividend. This represents a $5.84 annualized dividend and a dividend yield of 4.05%. Canadian Imperial Bank of Commerce’s payout ratio is 49.22%.

In related news, Director Michael Capatides sold 54,243 shares of the business’s stock in a transaction that occurred on Monday, May 31st. The stock was sold at an average price of C$142.64, for a total value of C$7,737,221.52. Following the completion of the sale, the director now directly owns 13,599 shares in the company, valued at C$1,939,761.36. Also, Director Victor George Dodig sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of C$145.04, for a total value of C$3,626,000.00. Following the completion of the sale, the director now owns 60,981 shares of the company’s stock, valued at C$8,844,684.24. Insiders sold 84,243 shares of company stock worth $12,085,522 in the last ninety days.

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 four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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