Several other equities research analysts have also recently weighed in on CM. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$97.00 to C$103.00 in a research report on Wednesday, January 8th. Canaccord Genuity Group raised 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. UBS Group cut their price target on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research note on Friday, February 14th. BMO Capital Markets lifted their target price on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. Finally, Cormark lifted their target price on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and a consensus price target of C$93.00.

View Our Latest Analysis on Canadian Imperial Bank of Commerce

Shares of CM opened at C$86.59 on Thursday. The stock’s 50-day moving average price is C$90.33 and its 200 day moving average price is C$85.29. The firm has a market capitalization of C$81.01 billion, a price-to-earnings ratio of 11.44, 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$62.59 and a 12-month high of C$95.50.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 27th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend was Friday, December 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 47.55%.

In other Canadian Imperial Bank of Commerce news, Senior Officer Susan Rimmer sold 1,000 shares of Canadian Imperial Bank of Commerce 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. Also, Director Victor George Dodig sold 150,000 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of C$94.22, for a total transaction of C$14,132,865.00. Over the last ninety days, insiders have sold 177,012 shares of company stock valued at $16,687,218. 0.02% of the stock is currently owned by corporate insiders.

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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.

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