Canadian Imperial Bank of Commerce (TSE:CM) Sets New 52-Week High at $74.93

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) reached a new 52-week high during trading on Wednesday . The company traded as high as C$74.93 and last traded at C$73.83, with a volume of 1839793 shares traded. The stock had previously closed at C$74.12.

Analyst Ratings Changes

Several brokerages have issued reports on CM. Royal Bank of Canada boosted their target price on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a research note on Friday. UBS Group set a C$70.00 target price on Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group reduced their price target on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research report on Monday, August 12th. TD Securities dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating on the stock in a research note on Friday. Finally, BMO Capital Markets increased their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$77.50.

Canadian Imperial Bank of Commerce Trading Up 1.6 %

The company has a market cap of C$74.27 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 3.01 and a beta of 1.12. The business’s 50 day moving average price is C$69.26 and its 200-day moving average price is C$67.11.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, May 30th. The company reported C$1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.66 by C$0.09. The firm had revenue of C$6.16 billion for the quarter, compared to analyst estimates of C$6.11 billion. Canadian Imperial Bank of Commerce had a net margin of 29.25% and a return on equity of 11.92%. Equities research analysts forecast that Canadian Imperial Bank of Commerce will post 7.3207171 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.57%. Canadian Imperial Bank of Commerce’s payout ratio is presently 54.96%.

Insider Activity

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 shares were sold at an average price of C$65.97, for a total transaction of C$1,372,672.55. In other news, Senior Officer John Hountalas sold 20,808 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was 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 the business’s stock in a transaction dated Friday, June 7th. The stock was 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 currently owned by 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.