Canadian Imperial Bank of Commerce (TSE:CM – Get Rating) (NYSE:CM) had its target price trimmed by Barclays from C$169.00 to C$143.00 in a research note published on Wednesday, Marketbeat Ratings reports. The brokerage currently has an equal weight rating on the stock.
CM has been the topic of several other research reports. BMO Capital Markets boosted their price objective on Canadian Imperial Bank of Commerce from C$165.00 to C$170.00 in a report on Monday, February 28th. Canaccord Genuity Group increased their price target on shares of Canadian Imperial Bank of Commerce from C$173.00 to C$178.00 in a research report on Monday, February 28th. Scotiabank dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$184.00 to C$166.00 in a report on Wednesday, April 13th. TD Securities raised their price target on shares of Canadian Imperial Bank of Commerce from C$180.00 to C$185.00 and gave the company a buy rating in a research report on Monday, February 28th. Finally, Fundamental Research upped their price objective on Canadian Imperial Bank of Commerce from C$160.31 to C$176.88 and gave the stock a buy rating in a research report on Monday, March 7th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of C$166.93.
Shares of CM opened at C$137.29 on Wednesday. The firm has a 50-day moving average price of C$149.63 and a 200 day moving average price of C$152.08. Canadian Imperial Bank of Commerce has a 12-month low of C$131.67 and a 12-month high of C$167.50. The firm has a market capitalization of C$61.96 billion and a P/E ratio of 9.53.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 28th. Shareholders of record on Monday, March 28th were issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 4.69%. The ex-dividend date was Friday, March 25th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 41.56%.
In other Canadian Imperial Bank of Commerce news, Director Harry Kenneth Culham sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of C$159.22, for a total transaction of C$398,050.00. Following the completion of the transaction, the director now owns 3,994 shares in the company, valued at approximately C$635,924.68. Insiders have sold a total of 12,449 shares of company stock valued at $1,973,187 in the last quarter.
Canadian Imperial Bank of Commerce Company Profile (Get Rating)
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.
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