Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM's stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$88.36 and traded as high as C$97.93. Canadian Imperial Bank of Commerce shares last traded at C$97.75, with a volume of 2,407,294 shares traded.
Analyst Ratings Changes
CM has been the topic of a number of analyst reports. Scotiabank upgraded shares of Canadian Imperial Bank of Commerce to a "strong-buy" rating in a report on Thursday, May 15th. 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 report on Tuesday, June 24th. 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. National Bankshares set a C$95.00 target price on Canadian Imperial Bank of Commerce and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Finally, Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and decreased their price target for the stock from C$100.00 to C$89.00 in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$96.23.
Read Our Latest Research Report on CM
Canadian Imperial Bank of Commerce Stock Up 0.4%
The company has a market cap of C$91.45 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The firm's 50-day moving average price is C$92.43 and its 200-day moving average price is C$88.36.
Canadian Imperial Bank of Commerce Announces Dividend
The firm 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. The ex-dividend date of this dividend is Friday, June 27th. This represents a $3.88 dividend on an annualized basis and a yield of 3.97%. Canadian Imperial Bank of Commerce's dividend payout ratio is 47.55%.
Insider Buying and Selling
In other Canadian Imperial Bank of Commerce news, Senior Officer Hratch Dikran Panossian sold 9,006 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of C$94.96, for a total value of C$855,240.38. Also, Senior Officer John Hountalas sold 32,018 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of C$93.87, for a total value of C$3,005,657.73. In the last ninety days, insiders have sold 105,837 shares of company stock worth $9,903,590. Insiders own 0.02% of the company's stock.
About Canadian Imperial Bank of Commerce
(
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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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