Key Points
- Insider sale: CIBC insider Amy Florence South sold 1,200 shares on June 22 at an average price of C$160.92, totaling C$193,104.
- Stock performance and valuation: The shares were up 0.7% and opened at C$161.45, near the 12-month high of C$162.12. The bank has a market cap of C$147.37 billion and trades at a P/E ratio of 16.02.
- Fundamentals and outlook: CIBC reported quarterly EPS of C$2.54 on revenue of C$8.01 billion and pays a quarterly dividend of C$1.07, yielding about 2.7%. Analysts currently rate the stock a Moderate Buy with a consensus price target of C$152.86.
Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) (NYSE:CM) insider Amy Florence South sold 1,200 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of C$160.92, for a total transaction of C$193,104.00.
Canadian Imperial Bank of Commerce Stock Up 0.7%
Canadian Imperial Bank of Commerce stock opened at C$161.45 on Tuesday. The company has a market capitalization of C$147.37 billion, a PE ratio of 16.02, a PEG ratio of 3.03 and a beta of 1.42. Canadian Imperial Bank of Commerce has a 12-month low of C$94.40 and a 12-month high of C$162.12. The firm's fifty day moving average is C$152.75 and its 200 day moving average is C$138.22.
Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) (NYSE:CM) last posted its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. The business had revenue of C$8.01 billion during the quarter. Sell-side 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 announced a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 28th were paid a $1.07 dividend. The ex-dividend date was Friday, March 27th. This represents a $4.28 annualized dividend and a dividend yield of 2.7%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 40.48%.
Wall Street Analysts Forecast Growth
CM has been the topic of a number of research reports. Scotiabank upped their price target on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 16th. Barclays boosted their price objective on Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a report on Monday, March 2nd. Raymond James Financial cut their target price on Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a "market perform" rating on the stock in a report on Friday, May 29th. National Bank Financial lifted their price target on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a "sector perform" rating in a research report on Friday, May 15th. Finally, TD Securities boosted their price target on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of "Moderate Buy" and a consensus price target of C$152.86.
Get Our Latest Stock Analysis on CM
About Canadian Imperial Bank of Commerce
(
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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