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Canadian Imperial Bank of Commerce (TSE:CM) Hits New 1-Year High - Still a Buy?

Canadian Imperial Bank of Commerce logo with Financial Services background

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$101.60 and last traded at C$101.09, with a volume of 552999 shares traded. The stock had previously closed at C$101.22.

Wall Street Analysts Forecast Growth

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

Get Our Latest Analysis on CM

Canadian Imperial Bank of Commerce Stock Performance

The firm has a market capitalization of C$94.90 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 3.03 and a beta of 1.12. The company has a 50 day moving average price of C$96.06 and a two-hundred day moving average price of C$89.26.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Monday, July 28th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 3.82%. The ex-dividend date is Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 47.55%.

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, Senior Officer Shawn Beber sold 9,107 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of C$94.28, for a total value of C$858,567.89. Also, Senior Officer Christina Charlotte Kramer sold 43,490 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of C$93.07, for a total value of C$4,047,614.30. Insiders sold a total of 105,837 shares of company stock valued at $9,903,590 in the last 90 days. 0.02% of the stock is owned by company insiders.

Canadian Imperial Bank of Commerce Company Profile

(Get Free Report)

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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