Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$69.76 and last traded at C$69.47, with a volume of 446831 shares. The stock had previously closed at C$68.67.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Monday, June 3rd. BMO Capital Markets increased their price objective on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$77.00 in a research report on Friday, May 31st. UBS Group set a C$70.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Scotiabank increased their price objective on shares of Canadian Imperial Bank of Commerce from C$73.00 to C$77.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Finally, Barclays increased their price objective on shares of Canadian Imperial Bank of Commerce from C$70.00 to C$71.00 and gave the company an “underweight” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$69.27.
Get Our Latest Stock Report on Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce Price Performance
Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last announced its quarterly earnings data on Thursday, May 30th. The company reported C$1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.66 by C$0.09. The firm had revenue of C$6.16 billion during the quarter, compared to analysts’ expectations of C$6.11 billion. Canadian Imperial Bank of Commerce had a net margin of 29.50% and a return on equity of 12.14%. Analysts predict that Canadian Imperial Bank of Commerce will post 6.7699387 earnings per share for the current year.
Canadian Imperial Bank of Commerce Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.17%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 55.21%.
Insider Transactions at Canadian Imperial Bank of Commerce
In other news, Senior Officer John Hountalas sold 20,808 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$65.97, for a total value of C$1,372,672.55. In related news, Senior Officer Christina Charlotte Kramer sold 23,782 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of C$67.50, for a total transaction of C$1,605,285.00. Also, Senior Officer John Hountalas sold 20,808 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$65.97, for a total transaction of C$1,372,672.55. Corporate insiders own 0.03% of the company’s stock.
Canadian Imperial Bank of Commerce Company Profile
Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.
See Also
- Five stocks we like better than Canadian Imperial Bank of Commerce
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- Intuitive Surgical Stock Outperforms Market: Highs on the Horizon
- What Do S&P 500 Stocks Tell Investors About the Market?
- Has This Leading Tech Stock Halted the AI Surge?
- 3 Home Improvement Stocks that Can Upgrade Your Portfolio
- Revolutionary Battery Stock Gains Momentum with 3D Silicon-Anodes
Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.