UBS Group Analysts Give Canadian Imperial Bank of Commerce (TSE:CM) a C$70.00 Price Target

UBS Group set a C$70.00 price target on Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) in a research report report published on Tuesday, MarketBeat reports. The firm currently has a neutral rating on the stock.

CM has been the subject of several other research reports. BMO Capital Markets increased their target price on Canadian Imperial Bank of Commerce from C$74.00 to C$77.00 in a research report on Friday, May 31st. Royal Bank of Canada increased their target price on Canadian Imperial Bank of Commerce from C$68.00 to C$69.00 and gave the stock a sector perform rating in a research report on Friday, May 31st. Desjardins increased their target price on Canadian Imperial Bank of Commerce from C$67.00 to C$71.00 and gave the stock a hold rating in a research report on Friday, May 31st. Jefferies Financial Group increased their target price on Canadian Imperial Bank of Commerce from C$78.00 to C$79.00 and gave the stock a buy rating in a research report on Thursday, June 6th. Finally, National Bankshares raised their price objective on Canadian Imperial Bank of Commerce from C$76.00 to C$78.00 and gave the company an outperform rating in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of Hold and a consensus price target of C$69.27.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at C$66.24 on Tuesday. The business has a 50-day moving average of C$66.24 and a 200 day moving average of C$64.91. The stock has a market capitalization of C$62.08 billion, a PE ratio of 10.16, a P/E/G ratio of 3.01 and a beta of 1.11. Canadian Imperial Bank of Commerce has a 1-year low of C$47.44 and a 1-year high of C$69.54.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, May 30th. The company reported C$1.75 EPS for the quarter, beating analysts’ consensus estimates of C$1.66 by C$0.09. The business had revenue of C$6.16 billion during the quarter, compared to analyst estimates of C$6.11 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.14% and a net margin of 29.50%. Analysts anticipate that Canadian Imperial Bank of Commerce will post 6.7699387 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, June 28th. This represents a $3.60 annualized dividend and a yield of 5.43%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 55.21%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the stock in a transaction 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 news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was 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 firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$65.97, for a total value of C$1,372,672.55. Company insiders own 0.03% of the company’s stock.

About Canadian Imperial Bank of Commerce

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.