Canadian Imperial Bank of Commerce (TSE:CM) Given New C$83.00 Price Target at Desjardins

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price upped by Desjardins from C$77.00 to C$83.00 in a research report report published on Friday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock. Desjardins also issued estimates for Canadian Imperial Bank of Commerce’s FY2024 earnings at $7.15 EPS and FY2025 earnings at $7.45 EPS.

Several other brokerages have also commented on CM. Canaccord Genuity Group increased their price target on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research note on Tuesday, August 13th. Jefferies Financial Group dropped their price objective on Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a buy rating for the company in a report on Monday, August 12th. National Bankshares lifted their target price on Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the company an outperform rating in a report on Friday. UBS Group set a C$70.00 price target on Canadian Imperial Bank of Commerce and gave the stock a neutral rating in a research note on Tuesday, July 2nd. Finally, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of C$79.15.

Canadian Imperial Bank of Commerce Price Performance

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 business has a 50-day moving average of C$69.79 and a two-hundred day moving average of C$67.45. The stock has a market capitalization of C$74.27 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce Dividend Announcement

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

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the company’s 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. In other Canadian Imperial Bank of Commerce news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of C$67.50, for a total value of C$1,605,285.00. Also, Senior Officer John Hountalas sold 20,808 shares of the company’s 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 value of C$1,372,672.55. Corporate insiders own 0.02% of the company’s stock.

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.