Canadian Imperial Bank of Commerce (CM) Reaches New 1-Year High at $123.16

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Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) hit a new 52-week high during trading on Thursday . The company traded as high as C$123.16 and last traded at C$122.83, with a volume of 689072 shares changing hands. The stock had previously closed at C$122.85.

A number of analysts have recently commented on the company. TD Securities boosted their price target on Canadian Imperial Bank of Commerce from C$140.00 to C$145.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. National Bank Financial boosted their price target on Canadian Imperial Bank of Commerce from C$124.00 to C$127.00 and gave the company a “sector perform” rating in a report on Friday, August 24th. Barclays boosted their price target on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a report on Thursday, May 24th. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 and gave the company a “market perform” rating in a report on Friday, August 24th. Finally, Scotiabank cut their price target on Canadian Imperial Bank of Commerce from C$131.00 to C$127.00 and set a “sector perform” rating on the stock in a report on Thursday, May 24th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of C$134.18.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 29th. Investors of record on Friday, September 28th will be issued a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Thursday, September 27th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.33.

Canadian Imperial Bank of Commerce Company Profile (TSE:CM)

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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