Canadian Imperial Bank of Commerce (TSE:CM) Stock Rating Upgraded by Scotiabank

Scotiabank upgraded shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Royal Bank of Canada set a C$108.00 target price on Canadian Imperial Bank of Commerce and gave the stock an “outperform” rating in a research report on Monday, March 17th. Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$100.00 to C$89.00 in a research report on Monday, April 21st. TD Securities decreased 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 report on Friday, February 28th. UBS Group cut their price target on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research note on Friday, February 14th. Finally, National Bankshares cut their price target on Canadian Imperial Bank of Commerce from C$101.00 to C$95.00 and set an “outperform” rating for the company in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and a consensus price target of C$94.31.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM opened at C$92.71 on Thursday. Canadian Imperial Bank of Commerce has a fifty-two week low of C$64.47 and a fifty-two week high of C$95.50. The business has a 50-day simple moving average of C$83.49 and a two-hundred day simple moving average of C$87.49. The firm has a market cap of C$86.74 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.19%. Canadian Imperial Bank of Commerce’s payout ratio is currently 47.55%.

Insider Activity

In other news, Senior Officer Sandy Sharman sold 1,027 shares of Canadian Imperial Bank of Commerce 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. Insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

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.