Canadian Imperial Bank of Commerce (TSE:CM) Reaches New 52-Week High at $83.92

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$83.92 and last traded at C$83.61, with a volume of 929148 shares trading hands. The stock had previously closed at C$83.49.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and lifted their price objective for the company from C$74.00 to C$90.00 in a research report on Friday, August 30th. BMO Capital Markets boosted their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. UBS Group set a C$70.00 target price on Canadian Imperial Bank of Commerce and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Cormark upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and boosted their target price for the stock from C$75.00 to C$83.00 in a research report on Friday, August 30th. Finally, Royal Bank of Canada boosted their target price on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$79.15.

Canadian Imperial Bank of Commerce Stock Down 1.0 %

The business has a fifty day moving average of C$73.61 and a 200 day moving average of C$69.00. The firm has a market cap of C$78.34 billion, a P/E ratio of 12.00, a P/E/G ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, October 28th will be paid a $0.90 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a yield of 4.34%. Canadian Imperial Bank of Commerce’s payout ratio is 52.10%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Director Harry Kenneth Culham sold 47,430 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$83.41, for a total value of C$3,956,136.30. In other Canadian Imperial Bank of Commerce news, Director Harry Kenneth Culham sold 47,430 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$83.41, for a total value of C$3,956,136.30. Also, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$83.40, for a total value of C$3,087,634.80. Over the last ninety days, insiders sold 170,790 shares of company stock valued at $13,769,695. Company 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.