Canadian Imperial Bank of Commerce (TSE:CM) Hits New 12-Month High - What's Next?

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$97.55 and last traded at C$97.43, with a volume of 1151361 shares. The stock had previously closed at C$96.66.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. National Bankshares set a C$95.00 price objective on Canadian Imperial Bank of Commerce and gave the company an "outperform" rating in a research note on Thursday, May 22nd. National Bank Financial lowered Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Thursday, May 29th. Barclays lifted their price target on Canadian Imperial Bank of Commerce from C$90.00 to C$94.00 and gave the company an "underperform" rating in a research report on Monday, June 9th. Canaccord Genuity Group set a C$96.00 price objective on Canadian Imperial Bank of Commerce and gave the stock a "hold" rating in a research report on Tuesday, June 24th. Finally, Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and cut their target price for the company from C$100.00 to C$89.00 in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of "Moderate Buy" and a consensus price target of C$96.23.

Canadian Imperial Bank of Commerce Price Performance

The stock has a market capitalization of C$91.07 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 3.03 and a beta of 1.12. The business has a fifty day moving average of C$91.87 and a 200 day moving average of C$88.28.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Monday, July 28th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 47.55%.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Christina Charlotte Kramer sold 43,490 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of C$93.07, for a total value of C$4,047,614.30. Also, Senior Officer Shawn Beber sold 3,151 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, June 19th. The shares were sold at an average price of C$94.61, for a total transaction of C$298,126.51. Insiders sold 105,837 shares of company stock worth $9,903,590 in the last ninety days. 0.02% of the stock is owned by company insiders.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada's fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.

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