Canadian Imperial Bank of Commerce (TSE:CM) Given New C$84.00 Price Target at National Bank Financial

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price target cut by National Bank Financial from C$112.00 to C$84.00 in a report issued on Wednesday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other research analysts have also recently issued reports about the company. BMO Capital Markets lowered their price target on Canadian Imperial Bank of Commerce from C$117.00 to C$114.00 in a report on Friday, December 6th. Credit Suisse Group lowered their price target on Canadian Imperial Bank of Commerce from C$110.00 to C$109.00 in a report on Thursday, March 5th. TD Securities raised Canadian Imperial Bank of Commerce from a hold rating to an action list buy rating and lowered their price target for the stock from C$110.00 to C$105.00 in a report on Friday, March 20th. CSFB lowered their price target on Canadian Imperial Bank of Commerce from C$110.00 to C$109.00 in a report on Thursday, March 5th. Finally, Canaccord Genuity set a C$108.00 price target on Canadian Imperial Bank of Commerce in a report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Hold and an average target price of C$110.54.

TSE CM traded up C$0.04 during trading hours on Wednesday, reaching C$81.68. The company’s stock had a trading volume of 3,841,738 shares, compared to its average volume of 2,686,355. The firm’s 50-day moving average price is C$97.02 and its 200-day moving average price is C$107.02. Canadian Imperial Bank of Commerce has a 1 year low of C$67.52 and a 1 year high of C$115.96. The company has a market capitalization of $34.20 billion and a price-to-earnings ratio of 7.28.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Friday, March 27th will be paid a $1.46 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.44. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $5.84 dividend on an annualized basis and a yield of 7.15%. Canadian Imperial Bank of Commerce’s payout ratio is presently 50.63%.

In other news, Senior Officer Christina Charlotte Kramer acquired 2,725 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, March 12th. The shares were acquired at an average price of C$73.30 per share, with a total value of C$199,742.50. Following the purchase, the insider now directly owns 8,465 shares in the company, valued at approximately C$620,484.50. Also, Director Victor George Dodig acquired 28,000 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, March 12th. The stock was purchased at an average cost of C$71.22 per share, for a total transaction of C$1,994,160.00. Following the purchase, the director now owns 65,981 shares in the company, valued at C$4,699,166.82. In the last ninety days, insiders acquired 33,022 shares of company stock worth $2,393,742.

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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (TSE:CM)

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