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

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.

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

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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