Canadian Imperial Bank of Commerce (CM) Reaches New 1-Year High at $123.71

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$123.71 and last traded at C$122.21, with a volume of 1353249 shares changing hands. The stock had previously closed at C$121.65.

Several research firms have weighed in on CM. Royal Bank of Canada lifted their price objective on Canadian Imperial Bank of Commerce from C$119.00 to C$128.00 and gave the company a “sector perform” rating in a research report on Friday, December 1st. Citigroup cut Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and lifted their price objective for the company from C$113.00 to C$120.00 in a research report on Wednesday, October 25th. CSFB lifted their price objective on Canadian Imperial Bank of Commerce from C$116.00 to C$125.00 and gave the company an “outperform” rating in a research report on Friday, December 1st. Scotiabank lifted their price objective on Canadian Imperial Bank of Commerce from C$128.00 to C$135.00 in a research report on Friday, December 1st. Finally, Canaccord Genuity set a C$121.00 price objective on Canadian Imperial Bank of Commerce in a research report on Wednesday, November 1st. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of C$125.50.

The company has a market cap of $54,520.00, a price-to-earnings ratio of 10.92 and a beta of 0.77.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Thursday, December 28th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Wednesday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.08%.

In related news, Director Laura Lee Dottori-Attanasio sold 11,928 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of C$119.55, for a total value of C$1,425,992.40.

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Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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