Canadian Imperial Bank of Commerce (CM) Hits New 12-Month High at $97.14

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM)’s share price reached a new 52-week high on Thursday . The stock traded as high as $97.14 and last traded at $95.19, with a volume of 854000 shares changing hands. The stock had previously closed at $94.51.

Several equities analysts have recently weighed in on the company. TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Wednesday, September 6th. Macquarie assumed coverage on Canadian Imperial Bank of Commerce in a research report on Tuesday, October 24th. They set an “underperform” rating and a $89.00 target price on the stock. Zacks Investment Research downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Barclays raised Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research report on Tuesday. Finally, Canaccord Genuity reissued a “buy” rating and set a $121.00 target price on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and a consensus price target of $114.00.

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $42,740.00, a price-to-earnings ratio of 10.93, a PEG ratio of 4.70 and a beta of 1.12.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Thursday, December 28th will be issued a dividend of $1.011 per share. This represents a $4.04 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Wednesday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 45.76%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 55.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock worth $120,000 after buying an additional 526 shares during the period. INR Advisory Services LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter worth $125,000. Quantum Capital Management LLC NJ bought a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth $134,000. Nationwide Fund Advisors bought a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter worth $138,000. Finally, D.A. Davidson & CO. bought a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter worth $162,000. Institutional investors own 44.37% of the company’s stock.

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About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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