Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$98.00 at TD Securities

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target upped by TD Securities from C$91.00 to C$98.00 in a research report released on Friday,BayStreet.CA reports.

A number of other equities research analysts have also recently commented on the company. Canaccord Genuity Group lifted their target price on Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research note on Tuesday, August 13th. Royal Bank of Canada lifted their target price 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. BMO Capital Markets lifted their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Barclays lifted their target price on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a research note on Friday, August 30th. Finally, Scotiabank boosted their price objective on Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and an average target price of C$79.69.

Canadian Imperial Bank of Commerce Trading Down 0.4 %

TSE CM traded down C$0.34 during mid-day trading on Friday, hitting C$89.50. The company’s stock had a trading volume of 3,405,200 shares, compared to its average volume of 3,711,292. The company’s 50 day simple moving average is C$84.81 and its 200 day simple moving average is C$73.82. Canadian Imperial Bank of Commerce has a twelve month low of C$51.60 and a twelve month high of C$90.57. The firm has a market capitalization of C$84.57 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. The business had revenue of C$6.60 billion during the quarter, compared to the consensus estimate of C$6.31 billion. As a group, research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is 52.10%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total value of C$441,791.70. Also, Senior Officer Shawn Beber sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of C$81.80, for a total transaction of C$817,960.00. Over the last quarter, insiders have sold 203,057 shares of company stock worth $16,823,249. 0.02% of the stock is currently owned by company 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.