Canadian Imperial Bank of Commerce (TSE:CM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$92.67.

A number of analysts have recently commented on CM shares. Scotiabank boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research report on Friday, December 6th. Cormark lifted their target price on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th. UBS Group lifted their target price on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a report on Monday, December 16th. Canaccord Genuity Group upped their price objective on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. Finally, National Bankshares raised their target price on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Robert Sedran sold 20,652 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$94.97, for a total transaction of C$1,961,227.51. Also, Senior Officer Susan Rimmer sold 1,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of C$93.14, for a total transaction of C$93,140.00. Insiders sold 177,012 shares of company stock valued at $16,687,218 over the last three months. Company insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

TSE CM opened at C$90.93 on Thursday. Canadian Imperial Bank of Commerce has a one year low of C$59.53 and a one year high of C$95.50. The stock’s 50-day moving average is C$90.61 and its 200-day moving average is C$79.44. The firm has a market cap of C$85.93 billion, a P/E ratio of 13.16, a P/E/G ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a $0.97 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. This represents a $3.88 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Friday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 52.10%.

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.