Canadian Imperial Bank of Commerce (CM) Sets New 52-Week High at $97.33

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) hit a new 52-week high during trading on Thursday . The stock traded as high as $97.33 and last traded at $97.33, with a volume of 534870 shares. The stock had previously closed at $96.34.

Several equities analysts have recently issued reports on CM shares. TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a report on Wednesday, September 6th. Macquarie started coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, October 24th. They issued an “underperform” rating and a $89.00 target price for the company. Zacks Investment Research lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Barclays raised Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Tuesday, December 19th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $121.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus price target of $114.00.

The company has a market cap of $42,930.00, a price-to-earnings ratio of 10.92, a PEG ratio of 4.77 and a beta of 1.12. 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 also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Thursday, December 28th will be issued a $1.011 dividend. This represents a $4.04 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Wednesday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 45.45%.

Several hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its holdings in Canadian Imperial Bank of Commerce by 55.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock valued at $120,000 after purchasing an additional 526 shares during the period. Quantum Capital Management LLC NJ bought a new position in shares of Canadian Imperial Bank of Commerce in the third quarter worth $134,000. Nationwide Fund Advisors bought a new position in shares of Canadian Imperial Bank of Commerce in the second quarter worth $138,000. D.A. Davidson & CO. bought a new position in shares of Canadian Imperial Bank of Commerce in the second quarter worth $162,000. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the third quarter worth $201,000. 44.37% of the stock is owned by institutional investors.

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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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