Canadian Imperial Bank of Commerce (TSE:CM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have earned an average rating of “Moderate Buy” from the twelve brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is C$79.15.

A number of research analysts have issued reports on the stock. Canaccord Genuity Group raised their price target on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a report on Tuesday, August 13th. Jefferies Financial Group dropped their price target on Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. TD Securities decreased their target price on Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating for the company in a report on Friday, August 30th. Royal Bank of Canada increased their price target on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a report on Friday, August 30th. Finally, Barclays lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research note on Friday, August 30th.

Canadian Imperial Bank of Commerce Price Performance

Shares of TSE:CM opened at C$86.48 on Friday. The business’s 50-day moving average is C$79.24 and its 200 day moving average is C$71.21. Canadian Imperial Bank of Commerce has a 1 year low of C$47.44 and a 1 year high of C$86.96. The firm has a market capitalization of C$81.72 billion, a P/E ratio of 12.52, a P/E/G ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data 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. The firm had revenue of C$6.60 billion for the quarter, compared to the consensus estimate of C$6.31 billion. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. On average, analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a yield of 4.16%. Canadian Imperial Bank of Commerce’s payout ratio is 52.10%.

Insiders Place Their Bets

In related news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the business’s 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. In other Canadian Imperial Bank of Commerce news, Director Harry Kenneth Culham sold 800 shares of the 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 transaction of C$66,560.00. Also, Senior Officer Hratch Dikran Panossian sold 5,530 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total value of C$441,791.70. Over the last 90 days, insiders have sold 203,057 shares of company stock worth $16,823,249. 0.02% of the stock is owned by corporate insiders.

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.