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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) has been given an average rating of “Moderate Buy” by the eleven research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is C$94.50.

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and lowered their price target for the company from C$100.00 to C$89.00 in a report on Monday, April 21st. TD Securities reduced their target price on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating for the company in a research note on Friday, February 28th. UBS Group dropped their price target on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research note on Friday, February 14th. National Bankshares reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$101.00 to C$95.00 and set an “outperform” rating on the stock in a research note on Monday, April 7th. Finally, Royal Bank of Canada set a C$108.00 price objective on Canadian Imperial Bank of Commerce and gave the company an “outperform” rating in a research note on Monday, March 17th.

Insider Activity at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Sandy Sharman sold 1,027 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of C$81.27, for a total transaction of C$83,464.29. Company insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Up 1.1 %

Shares of Canadian Imperial Bank of Commerce stock opened at C$86.47 on Wednesday. The stock has a market cap of C$80.90 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a twelve month low of C$64.02 and a twelve month high of C$95.50. The company has a fifty day moving average price of C$82.24 and a 200 day moving average price of C$87.10.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, March 28th were issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 4.49%. The ex-dividend date was Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is currently 47.55%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.