Desjardins Cuts Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$170.00

by · The Markets Daily

Canadian Imperial Bank of Commerce (TSE:CM – Free Report) (NYSE:CM) had its price target lowered by Desjardins from C$173.00 to C$170.00 in a research note released on Friday,BayStreet.CA reports. The firm currently has a hold rating on the stock.

CM has been the subject of several other research reports. Canaccord Genuity Group lifted their target price on shares of Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the stock a “hold” rating in a research note on Friday. Raymond James Financial upped their price target on shares of Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the company a “market perform” rating in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods set a C$186.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the stock a “hold” rating in a report on Friday, August 21st. National Bank Financial set a C$180.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the company a “sector perform” rating in a research note on Monday, August 24th. Finally, TD lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$167.71.

Read Our Latest Stock Report on Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at C$159.09 on Friday. The business has a 50-day moving average of C$164.87 and a 200 day moving average of C$151.30. Canadian Imperial Bank of Commerce has a fifty-two week low of C$105.01 and a fifty-two week high of C$172.87. The firm has a market cap of C$144.44 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 3.03 and a beta of 1.40.

Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last announced its quarterly earnings data on Thursday, August 27th. The company reported C$2.73 earnings per share (EPS) for the quarter. The business had revenue of C$8.37 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%. As a group, research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 28th were paid a $1.07 dividend. The ex-dividend date was Monday, June 29th. This represents a $4.28 annualized dividend and a yield of 2.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 40.12%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, insider Christopher John Anderson sold 8,490 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the sale, the insider directly owned 6,252 shares in the company, valued at C$972,186. This represents a 57.59% decrease in their ownership of the stock. Also, insider Stephen Alan Scholtz sold 6,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total transaction of C$976,200.00. Insiders sold 17,776 shares of company stock valued at $2,817,744 in the last quarter. 0.02% of the stock is currently owned by corporate insiders.

Canadian Imperial Bank of Commerce Company Profile

(Get Free Report)

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.

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