TD Securities Issues Positive Forecast for Canadian Imperial Bank of Commerce (TSE:CM) Stock Price

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target raised by TD Securities from C$91.00 to C$98.00 in a research report released on Friday,BayStreet.CA reports.

CM has been the subject of several other reports. BMO Capital Markets boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Scotiabank boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Jefferies Financial Group decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a report on Monday, August 12th. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and boosted their price objective for the company from C$74.00 to C$90.00 in a report on Friday, August 30th. Finally, Canaccord Genuity Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$79.69.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock traded down C$0.34 during mid-day trading on Friday, hitting C$89.50. The company’s stock had a trading volume of 3,405,200 shares, compared to its average volume of 3,711,292. The stock has a market cap of C$84.57 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 52-week low of C$51.60 and a 52-week high of C$90.57. The business has a 50-day moving average price of C$84.81 and a 200 day moving average price of C$73.82.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.75 by C$0.18. The business 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%. Equities research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were issued a dividend of $0.90 per share. The ex-dividend date was Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a yield of 4.02%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.10%.

Insiders Place Their Bets

In other news, Director Harry Kenneth Culham sold 800 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of C$83.20, for a total value of C$66,560.00. Also, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of C$83.40, for a total transaction of C$3,087,634.80. Insiders sold a total of 203,057 shares of company stock worth $16,823,249 over the last three months. 0.02% of the stock is currently owned by company insiders.

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.