Barclays Boosts Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$77.00

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target upped by Barclays from C$71.00 to C$77.00 in a report released on Friday, BayStreet.CA reports. They currently have an underweight rating on the stock.

Other research analysts have also recently issued reports about the company. BMO Capital Markets boosted their target price on Canadian Imperial Bank of Commerce from C$74.00 to C$77.00 in a report on Friday, May 31st. National Bankshares boosted their target price on Canadian Imperial Bank of Commerce from C$76.00 to C$78.00 and gave the stock an outperform rating in a report on Friday, May 31st. TD Securities boosted their target price on Canadian Imperial Bank of Commerce from C$76.00 to C$83.00 in a report on Thursday, August 8th. Scotiabank boosted their target price on Canadian Imperial Bank of Commerce from C$73.00 to C$77.00 and gave the stock an outperform rating in a report on Friday, May 31st. Finally, Jefferies Financial Group decreased their price objective on Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a buy rating on the stock in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of C$79.15.

Canadian Imperial Bank of Commerce Trading Up 1.6 %

TSE:CM opened at C$78.76 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of C$47.44 and a 12 month high of C$79.62. The stock has a 50 day moving average of C$69.53 and a two-hundred day moving average of C$67.29. The firm has a market cap of C$74.27 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, May 30th. The company reported C$1.75 EPS for the quarter, topping the consensus estimate of C$1.66 by C$0.09. Canadian Imperial Bank of Commerce had a return on equity of 11.92% and a net margin of 29.25%. The company had revenue of C$6.16 billion during the quarter, compared to analyst estimates of C$6.11 billion. On average, research analysts forecast that Canadian Imperial Bank of Commerce will post 7.3207171 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 54.96%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Senior Officer John Hountalas sold 20,808 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$65.97, for a total transaction of C$1,372,672.55. In related news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of C$67.50, for a total transaction of C$1,605,285.00. Also, Senior Officer John Hountalas sold 20,808 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$65.97, for a total value of C$1,372,672.55. 0.02% of the stock is owned by corporate 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.