Canadian Imperial Bank of Commerce (TSE:CM) Given New C$94.00 Price Target at National Bankshares

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective lifted by National Bankshares from C$86.00 to C$94.00 in a research report sent to investors on Wednesday,BayStreet.CA reports.

Other equities analysts also recently issued reports about the stock. Scotiabank boosted their target price 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 raised their price objective for the stock from C$75.00 to C$83.00 in a research report on Friday, August 30th. Canaccord Genuity Group increased their price target on Canadian Imperial Bank of Commerce from C$81.00 to C$92.00 in a research note on Tuesday. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and raised their price target for the stock from C$74.00 to C$90.00 in a report on Friday, August 30th. Finally, Desjardins lifted their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus target price of C$83.00.

Canadian Imperial Bank of Commerce Trading Up 1.0 %

CM opened at C$90.72 on Wednesday. The company has a market capitalization of C$85.73 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12-month low of C$51.60 and a 12-month high of C$90.73. The business’s fifty day simple moving average is C$85.26 and its 200-day simple moving average is C$74.28.

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

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were issued a $0.90 dividend. The ex-dividend date was Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a yield of 3.97%. Canadian Imperial Bank of Commerce’s payout ratio is 52.10%.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, Director Harry Kenneth Culham sold 800 shares of Canadian Imperial Bank of Commerce 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 have sold a total of 203,057 shares of company stock valued at $16,823,249 in the last ninety days. 0.02% of the stock is currently owned by corporate 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.