UBS Group Analysts Give Canadian Imperial Bank of Commerce (TSE:CM) a C$70.00 Price Target

UBS Group set a C$70.00 price target on Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) in a research report sent to investors on Tuesday, MarketBeat reports. The firm currently has a neutral rating on the stock.

A number of other brokerages have also recently issued reports on CM. Jefferies Financial Group raised their target price on Canadian Imperial Bank of Commerce from C$78.00 to C$79.00 and gave the stock a buy rating in a report on Thursday, June 6th. BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from C$74.00 to C$77.00 in a report on Friday, May 31st. National Bankshares boosted their target price on Canadian Imperial Bank of Commerce from C$76.00 to C$78.00 and gave the company an outperform rating in a research note on Friday, May 31st. Scotiabank boosted their target price on Canadian Imperial Bank of Commerce from C$73.00 to C$77.00 and gave the company an outperform rating in a research note on Friday, May 31st. Finally, Desjardins boosted their target price on Canadian Imperial Bank of Commerce from C$67.00 to C$71.00 and gave the company a hold rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of C$69.27.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE:CM opened at C$66.24 on Tuesday. Canadian Imperial Bank of Commerce has a twelve month low of C$47.44 and a twelve month high of C$69.54. The firm has a market cap of C$62.08 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 3.01 and a beta of 1.11. The business has a fifty day moving average of C$66.24 and a 200-day moving average of C$64.91.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, May 30th. The company reported C$1.75 EPS for the quarter, topping analysts’ consensus estimates of C$1.66 by C$0.09. The firm had revenue of C$6.16 billion during the quarter, compared to analyst estimates of C$6.11 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.14% and a net margin of 29.50%. On average, analysts anticipate that Canadian Imperial Bank of Commerce will post 6.7699387 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 5.43%. The ex-dividend date is Friday, June 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 55.21%.

Insider Buying and Selling

In related news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of C$67.50, for a total value of C$1,605,285.00. In other Canadian Imperial Bank of Commerce news, Senior Officer John Hountalas sold 20,808 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$65.97, for a total transaction of C$1,372,672.55. Also, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of C$67.50, for a total value of C$1,605,285.00. 0.03% of the stock is owned by insiders.

Canadian Imperial Bank of Commerce Company Profile

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.