Canadian Imperial Bank of Commerce (CM) Hits New 12-Month High at $116.13

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s share price reached a new 52-week high on Monday . The stock traded as high as C$116.13 and last traded at C$116.09, with a volume of 431391 shares changing hands. The stock had previously closed at C$115.10.

Several brokerages have recently issued reports on CM. Desjardins lifted their price objective on Canadian Imperial Bank of Commerce from C$133.00 to C$134.00 in a research note on Friday, February 23rd. National Bank Financial lifted their price objective on Canadian Imperial Bank of Commerce from C$133.00 to C$136.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from C$126.00 to C$130.00 and gave the company a “market perform” rating in a research note on Friday, February 23rd. Scotiabank lifted their price objective on Canadian Imperial Bank of Commerce from C$134.00 to C$135.00 and gave the company a “sector perform” rating in a research note on Friday, February 23rd. Finally, Eight Capital lifted their price objective on Canadian Imperial Bank of Commerce from C$134.00 to C$139.00 in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$132.00.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, February 22nd. The company reported C$3.18 earnings per share for the quarter, topping the consensus estimate of C$2.83 by C$0.35. The firm had revenue of C$4.46 billion during the quarter, compared to analysts’ expectations of C$4.25 billion. Canadian Imperial Bank of Commerce had a return on equity of 18.90% and a net margin of 31.76%.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 27th. Investors of record on Wednesday, March 28th were paid a dividend of $1.33 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, March 27th. This represents a $5.32 annualized dividend and a yield of 4.56%.

In other Canadian Imperial Bank of Commerce news, Director Katharine Berghuis Stevenson bought 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of C$119.17 per share, for a total transaction of C$178,755.00.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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