Canadian Imperial Bank of Commerce (TSE:CM) PT Lowered to C$84.00 at National Bank Financial

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

Several other research analysts have also issued reports on the company. Credit Suisse Group reduced their target price on Canadian Imperial Bank of Commerce from C$110.00 to C$109.00 in a research report on Thursday, March 5th. TD Securities raised Canadian Imperial Bank of Commerce from a hold rating to an action list buy rating and reduced their target price for the company from C$110.00 to C$105.00 in a research report on Friday, March 20th. BMO Capital Markets reduced their target price on Canadian Imperial Bank of Commerce from C$117.00 to C$114.00 in a research report on Friday, December 6th. Royal Bank of Canada reduced their target price on Canadian Imperial Bank of Commerce from C$121.00 to C$120.00 and set a sector perform rating on the stock in a research report on Thursday, February 27th. Finally, CSFB reduced their target price on Canadian Imperial Bank of Commerce from C$110.00 to C$109.00 in a research report on Thursday, March 5th. Six analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of C$110.54.

TSE:CM traded up C$0.04 during mid-day trading on Wednesday, hitting C$81.68. 3,841,738 shares of the company’s stock traded hands, compared to its average volume of 2,686,355. The company has a fifty day moving average of C$97.02 and a 200 day moving average of C$107.02. Canadian Imperial Bank of Commerce has a twelve month low of C$67.52 and a twelve month high of C$115.96. The company has a market capitalization of $34.20 billion and a P/E ratio of 7.28.

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

In related news, Senior Officer Christina Charlotte Kramer bought 2,725 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of C$73.30 per share, with a total value of C$199,742.50. Following the completion of the acquisition, the insider now directly owns 8,465 shares in the company, valued at C$620,484.50. Also, Director Victor George Dodig bought 28,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of C$71.22 per share, for a total transaction of C$1,994,160.00. Following the completion of the acquisition, the director now owns 65,981 shares of the company’s stock, valued at C$4,699,166.82. Insiders bought 33,022 shares of company stock worth $2,393,742 over the last three months.

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.

See Also: How much can an individual set aside as a catch-up contribution?

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

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.