Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$82.30 and last traded at C$81.47, with a volume of 859527 shares traded. The stock had previously closed at C$82.10.
Analysts Set New Price Targets
CM has been the topic of several recent research reports. TD Securities dropped their price target on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. National Bankshares lifted their target price on Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Desjardins increased their price target on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Cormark raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and lifted their price objective for the stock from C$75.00 to C$83.00 in a report on Friday, August 30th. Finally, Barclays upped their target price on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$79.15.
Read Our Latest Analysis on Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce Price Performance
Canadian Imperial Bank of Commerce Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 annualized dividend and a dividend yield of 4.35%. Canadian Imperial Bank of Commerce’s payout ratio is currently 52.10%.
Insider Activity at Canadian Imperial Bank of Commerce
In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total transaction of C$441,791.70. In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total value of C$441,791.70. Also, Senior Officer John Hountalas sold 20,808 shares of the company’s stock in a transaction that occurred 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. Over the last quarter, insiders have sold 76,338 shares of company stock worth $5,907,964. Insiders own 0.02% of the company’s stock.
About Canadian Imperial Bank of Commerce
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.
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