Canadian Imperial Bank of Commerce (TSE:CM) Sets New 1-Year High - Here's What Happened

Key Points

• Canadian Imperial Bank of Commerce reached a new **52-week high** of C$114.98 during trading, with a last price of C$114.87 and a trading volume of 3,838,044 shares.
• Multiple analysts have **increased their price targets**, with Scotiabank raising its target from C$116.00 to **C$121.00**, indicating growing confidence in the bank's performance.
• The bank declared a **quarterly dividend** of $0.97 per share, with a yield of **3.4%**, reflecting a dividend payout ratio of 46.07%.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM reached a new 52-week high during trading on Wednesday . The stock traded as high as C$114.98 and last traded at C$114.87, with a volume of 3838044 shares changing hands. The stock had previously closed at C$112.90.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada upped their price target on Canadian Imperial Bank of Commerce from C$112.00 to C$113.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. National Bankshares set a C$110.00 price objective on Canadian Imperial Bank of Commerce and gave the stock a "sector perform" rating in a research report on Monday, September 22nd. Desjardins boosted their price objective on Canadian Imperial Bank of Commerce from C$106.00 to C$113.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. BMO Capital Markets boosted their price objective on Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a research report on Friday, August 29th. Finally, Scotiabank boosted their price objective on Canadian Imperial Bank of Commerce from C$116.00 to C$121.00 in a research report on Friday, October 10th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of "Hold" and a consensus target price of C$108.67.

Canadian Imperial Bank of Commerce Trading Up 1.7%

The business has a fifty day moving average of C$107.58 and a 200-day moving average of C$97.19. The firm has a market cap of C$106.78 billion, a PE ratio of 13.89, a PEG ratio of 3.03 and a beta of 1.37.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 28th. Investors of record on Tuesday, October 28th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $3.88 dividend on an annualized basis and a yield of 3.4%. Canadian Imperial Bank of Commerce's dividend payout ratio is 46.07%.

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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