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

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) have received a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$93.50.

Several analysts have issued reports on CM shares. National Bankshares boosted their price target on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. Scotiabank cut their price target on Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Cormark boosted their price target on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. Royal Bank of Canada set a C$108.00 price target on Canadian Imperial Bank of Commerce and gave the company an “outperform” rating in a report on Monday. Finally, Canaccord Genuity Group upped their price objective on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research note on Friday, December 6th.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, Senior Officer Susan Rimmer sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of C$93.14, for a total transaction of C$93,140.00. 0.02% of the stock is owned by company insiders.

Canadian Imperial Bank of Commerce Stock Performance

TSE:CM opened at C$81.71 on Tuesday. The stock has a 50-day simple moving average of C$87.58 and a two-hundred day simple moving average of C$86.74. Canadian Imperial Bank of Commerce has a 52-week low of C$64.02 and a 52-week high of C$95.50. The firm has a market capitalization of C$76.45 billion, a PE ratio of 10.79, a P/E/G ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Monday, April 28th will be given a $0.97 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.75%. Canadian Imperial Bank of Commerce’s dividend 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.