Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$165.25 and last traded at C$165.07, with a volume of 378813 shares changing hands. The stock had previously closed at C$163.53.
Analysts Set New Price Targets
CM has been the topic of several analyst reports. National Bank Financial increased their price target on Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a report on Friday, May 15th. Raymond James Financial cut their target price on Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a “market perform” rating for the company in a research note on Friday, May 29th. Canaccord Genuity Group upped their price target on Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the company a “hold” rating in a research report on Tuesday. TD cut their price objective on Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating for the company in a research report on Friday, May 29th. Finally, Desjardins upped their target price on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$153.59.
View Our Latest Stock Analysis on CM
Canadian Imperial Bank of Commerce Price Performance
Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last announced its earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share (EPS) for the quarter. The business had revenue of C$8.01 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.
Canadian Imperial Bank of Commerce Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 28th will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 40.48%.
Insider Transactions at Canadian Imperial Bank of Commerce
In other Canadian Imperial Bank of Commerce news, insider Christopher John Anderson sold 8,490 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, June 11th. The shares were sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the completion of the transaction, the insider directly owned 6,252 shares of the company’s stock, valued at C$972,186. The trade was a 57.59% decrease in their ownership of the stock. Also, insider Amy Florence South sold 1,200 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of C$160.92, for a total transaction of C$193,104.00. Insiders have sold 17,776 shares of company stock worth $2,817,744 in the last ninety days. Insiders own 0.02% of the company’s stock.
Canadian Imperial Bank of Commerce Company Profile
CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.
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