Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$108.00 at Scotiabank

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its target price upped by Scotiabank from C$85.00 to C$108.00 in a report released on Monday morning,BayStreet.CA reports.

Several other brokerages have also commented on CM. Desjardins lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Royal Bank of Canada increased their price objective on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and boosted their target price for the company from C$74.00 to C$90.00 in a research note on Friday, August 30th. Barclays increased their price target on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a research note on Friday, August 30th. Finally, Jefferies Financial Group lowered 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 research note 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$87.17.

Canadian Imperial Bank of Commerce Stock Down 0.3 %

CM stock opened at C$90.42 on Monday. The business has a 50 day moving average of C$86.36 and a 200-day moving average of C$75.37. The firm has a market cap of C$85.44 billion, a PE ratio of 13.09, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12-month low of C$52.48 and a 12-month high of C$92.17.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.75 by C$0.18. The firm had revenue of C$6.60 billion during the quarter, compared to analyst estimates of C$6.31 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. On average, research analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 52.10%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Senior Officer Shawn Beber sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of C$81.80, for a total value of C$817,960.00. Also, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total value of C$441,791.70. Insiders sold a total of 203,057 shares of company stock valued at $16,823,249 in the last three months. Company insiders own 0.02% 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.