Canadian Imperial Bank of Commerce (TSE:CM) Reaches New 52-Week High at $69.08

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$69.08 and last traded at C$69.05, with a volume of 682336 shares traded. The stock had previously closed at C$68.32.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. National Bankshares upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$62.00 to C$71.00 in a research report on Wednesday, December 20th. Scotiabank increased their target price on Canadian Imperial Bank of Commerce from C$67.00 to C$69.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Cormark increased their price objective on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$68.00 in a report on Friday, March 1st. BMO Capital Markets lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$67.00 to C$68.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada lifted their target price on Canadian Imperial Bank of Commerce from C$63.00 to C$68.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and an average price target of C$65.38.

Canadian Imperial Bank of Commerce Trading Down 0.7 %

The firm has a market cap of C$63.64 billion, a P/E ratio of 10.38, a P/E/G ratio of 3.01 and a beta of 1.10. The business has a 50-day moving average price of C$63.61 and a 200-day moving average price of C$58.39.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, February 29th. The company reported C$1.81 earnings per share for the quarter, beating the consensus estimate of C$1.69 by C$0.12. Canadian Imperial Bank of Commerce had a net margin of 29.50% and a return on equity of 12.14%. The firm had revenue of C$6.22 billion during the quarter, compared to the consensus estimate of C$6.07 billion. On average, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 6.8183633 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, March 28th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 55.05%.

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.