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Canadian Imperial Bank of Commerce (TSE:CM) Sets New 52-Week High - What's Next?

Canadian Imperial Bank of Commerce logo with Financial Services background

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM's share price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$99.25 and last traded at C$99.16, with a volume of 771528 shares changing hands. The stock had previously closed at C$98.07.

Wall Street Analyst Weigh In

A number of research analysts have recently 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 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. Royal Bank Of Canada lowered their target price on Canadian Imperial Bank of Commerce from C$116.00 to C$112.00 and set an "outperform" rating for the company in a report on Monday, June 9th. Canaccord Genuity Group set a C$96.00 price target on Canadian Imperial Bank of Commerce and gave the company a "hold" rating in a research note on Tuesday, June 24th. Finally, Scotiabank upgraded Canadian Imperial Bank of Commerce to a "strong-buy" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$96.23.

Get Our Latest Stock Analysis on Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce Stock Up 1.5%

The firm has a market capitalization of C$93.14 billion, a P/E ratio of 13.15, a PEG ratio of 3.03 and a beta of 1.12. The business's 50 day moving average is C$93.18 and its 200-day moving average is C$88.44.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Monday, July 28th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is 47.55%.

Insiders Place Their Bets

In other Canadian Imperial Bank of Commerce news, Senior Officer Shawn Beber sold 3,151 shares of the business's stock in a transaction that occurred on Thursday, June 19th. The stock was sold at an average price of C$94.61, for a total value of C$298,126.51. Also, Senior Officer Hratch Dikran Panossian sold 9,006 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of C$94.96, for a total value of C$855,240.38. Over the last 90 days, insiders have sold 105,837 shares of company stock valued at $9,903,590. 0.02% of the stock is currently owned by company insiders.

About Canadian Imperial Bank of Commerce

(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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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