Canadian Imperial Bank of Commerce (TSE:CM) Price Target Raised to C$99.00 at BMO Capital Markets

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target increased by BMO Capital Markets from C$81.00 to C$99.00 in a research report report published on Monday morning,BayStreet.CA reports.

Other research analysts have also issued reports about the stock. Scotiabank raised their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Cormark raised Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and boosted their price objective for the company from C$75.00 to C$83.00 in a report on Friday, August 30th. Barclays increased their target price on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a report on Friday, August 30th. National Bankshares boosted their price target on Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada upped their price target on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$81.08.

Canadian Imperial Bank of Commerce Stock Performance

The firm has a market capitalization of C$84.78 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a one year low of C$51.60 and a one year high of C$90.57. The stock has a 50 day simple moving average of C$84.81 and a 200-day simple moving average of C$73.93.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. The company had revenue of C$6.60 billion for the quarter, compared to analyst estimates of C$6.31 billion. As a group, equities research analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were given a dividend of $0.90 per share. The ex-dividend date was Friday, September 27th. This represents a $3.60 annualized dividend and a dividend yield of ∞. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.10%.

Insider Activity at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Director Harry Kenneth Culham sold 800 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of C$83.20, for a total transaction of C$66,560.00. Also, Senior Officer Shawn Beber sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of C$81.80, for a total value of C$817,960.00. Insiders have sold a total of 203,057 shares of company stock worth $16,823,249 in the last ninety days. 0.02% of the stock is owned by 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.