Canadian Imperial Bank of Commerce (TSE:CM) Hits New 1-Year High at $73.07

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$73.07 and last traded at C$73.00, with a volume of 1018035 shares. The stock had previously closed at C$72.70.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CM. Barclays boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$70.00 to C$71.00 and gave the company an “underweight” rating in a report on Friday, May 31st. Cormark set a C$72.00 price target on Canadian Imperial Bank of Commerce and gave the stock a “market perform” rating in a research note on Tuesday. UBS Group set a C$70.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Scotiabank boosted their price target on shares of Canadian Imperial Bank of Commerce from C$73.00 to C$77.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st. Finally, BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from C$74.00 to C$77.00 in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus price target of C$71.79.

Canadian Imperial Bank of Commerce Price Performance

The company has a market cap of C$68.92 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 3.01 and a beta of 1.12. The business’s 50-day simple moving average is C$68.20 and its 200-day simple moving average is C$66.58.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, May 30th. The company reported C$1.75 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.66 by C$0.09. The company had revenue of C$6.16 billion during the quarter, compared to analysts’ expectations of C$6.11 billion. Canadian Imperial Bank of Commerce had a return on equity of 11.92% and a net margin of 29.25%. As a group, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 7.301217 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Friday, June 28th were paid a $0.90 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.60 annualized dividend and a yield of 4.93%. Canadian Imperial Bank of Commerce’s payout ratio is currently 54.96%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Senior Officer John Hountalas sold 20,808 shares of Canadian Imperial Bank of Commerce stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$65.97, for a total value of C$1,372,672.55. In other Canadian Imperial Bank of Commerce news, Senior Officer John Hountalas sold 20,808 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$65.97, for a total transaction of C$1,372,672.55. Also, Senior Officer Christina Charlotte Kramer sold 23,782 shares of Canadian Imperial Bank of Commerce stock in a transaction on Friday, June 7th. The shares were sold at an average price of C$67.50, for a total transaction of C$1,605,285.00. 0.02% of the stock is owned by company insiders.

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.