The Canadian Imperial Bank of Commerce (CM.TO) (TSE: CM) hits a new 52-week high on its analyst upgrade
Shares of the Canadian Imperial Bank of Commerce (CM.TO) (TSE: CM) (NYSE: CM) hit a new 52-week high during mid-day trading Monday after Canaccord Genuity set the price target for its stock of Raised C $ 122.00 to C had $ 124.50. The company traded up to $ 115.65 and was last traded at $ 115.53 for 520,548 shares. The stock previously closed at $ 114.76.
Several other research firms have also recently looked at CM. Credit Suisse Group raised its target price for shares in the Canadian Imperial Bank of Commerce (CM.TO) from C $ 105.00 to C $ 108.00 in a report on Friday, December 4th. The Royal Bank of Canada raised the shares of the Canadian Imperial Bank of Commerce (CM.TO) from a rating for “sector performance” to a rating for “outperform” and their price target for the company of 110.00 C in a report on Monday Raised $ 130.00 to C $. December 7th. BMO Capital Markets raised its target price on shares of the Canadian Imperial Bank of Commerce (CM.TO) from C $ 118.00 to C $ 124.00 in a report on Friday, December 4th. CSFB raised its target price on shares of the Canadian Imperial Bank of Commerce (CM.TO) in a research note on Friday, December 4th, from C $ 105.00 to C $ 108.00. Finally, in a research note on Monday, November 23, Scotiabank raised its target price for shares in the Canadian Imperial Bank of Commerce (CM.TO) from C $ 112.00 to C $ 139.00. One stock research analyst has given the stock a hold rating and four have given the company a buy rating. The Canadian Imperial Bank of Commerce (CM.TO) has an average rating of “Buy” and an average price target of $ 119.50.
The company’s 50-day moving average is $ 111.93 and the 200-day moving average is $ 105.87. The stock has a market capitalization of $ 51.61 billion and a price-to-earnings ratio of 13.96.
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The Canadian Imperial Bank of Commerce (CM.TO) (TSE: CM) (NYSE: CM) last released its results on Thursday, December 3rd. The company reported earnings of $ 2.79 per share for the quarter, beating Thomson Reuters’ consensus estimate of $ 2.48 by $ 0.31. The company had sales of $ 4.60 billion for the quarter, compared to analyst estimates of $ 4.66 billion. On average, stock analysts predict that the Canadian Imperial Bank of Commerce will achieve earnings per share of 11,8500002 this year.
The company recently announced a quarterly dividend, which was paid on Thursday, January 28th. On Tuesday, December 29th, shareholders of record received a dividend of $ 1.46. This equates to an annual dividend of $ 5.84 and a dividend yield of 5.06%. The ex-dividend date of this dividend was Thursday, December 24th. The payout ratio (DPR) of the Canadian Imperial Bank of Commerce (CM.TO) is currently 70.80%.
About the Canadian Imperial Bank of Commerce (CM.TO) (TSE: CM)
Canadian Imperial Bank of Commerce, a diversified financial institution, offers a variety of financial products and services to retail, business, public, and institutional clients in Canada, the United States, and internationally. The company operates in four strategic businesses: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; US
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