Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target hoisted by Credit Suisse Group to C$131.00 in a research note released on Thursday, Stock Target Advisor reports. The brokerage currently has a na rating on the stock.
Other research analysts also recently issued research reports about the company. Fundamental Research lifted their price target on Canadian Imperial Bank of Commerce from C$115.36 to C$135.48 and gave the company a buy rating in a report on Tuesday, March 2nd. Royal Bank of Canada upped their price objective on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$141.00 and gave the company an outperform rating in a research note on Friday, February 26th. Scotiabank lifted their target price on shares of Canadian Imperial Bank of Commerce from C$144.00 to C$156.00 in a research note on Thursday. TD Securities upped their price target on shares of Canadian Imperial Bank of Commerce from C$125.00 to C$130.00 and gave the stock a buy rating in a research note on Friday, February 26th. Finally, CSFB lifted their price objective on Canadian Imperial Bank of Commerce from C$123.00 to C$131.00 in a research report on Thursday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of C$139.32.
Shares of TSE CM opened at C$135.35 on Thursday. The stock’s fifty day simple moving average is C$127.37 and its 200 day simple moving average is C$117.09. The stock has a market capitalization of C$60.62 billion and a price-to-earnings ratio of 14.80. Canadian Imperial Bank of Commerce has a 52-week low of C$81.35 and a 52-week high of C$135.73.
Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, February 25th. The company reported C$3.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$2.79 by C$0.79. The company had revenue of C$4.96 billion during the quarter, compared to analysts’ expectations of C$4.84 billion. As a group, sell-side analysts expect that Canadian Imperial Bank of Commerce will post 12.9080352 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 28th. Shareholders of record on Monday, March 29th were issued a dividend of $1.46 per share. The ex-dividend date of this dividend was Friday, March 26th. This represents a $5.84 annualized dividend and a yield of 4.31%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 63.86%.
In other Canadian Imperial Bank of Commerce news, Director Katharine Berghuis Stevenson purchased 400 shares of the stock in a transaction dated Friday, March 12th. The shares were bought at an average cost of C$124.20 per share, with a total value of C$49,680.00. Following the completion of the transaction, the director now owns 22,693 shares in the company, valued at approximately C$2,818,470.60. Also, Director Michael Capatides sold 37,820 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Monday, March 1st. The stock was sold at an average price of C$118.49, for a total value of C$4,481,291.80. Following the completion of the transaction, the director now owns 13,599 shares in the company, valued at C$1,611,345.51. Insiders sold 61,895 shares of company stock valued at $7,433,702 over the last 90 days.
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 four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.
Featured Story: Day Trading