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The Canadian Imperial Bank of Commerce (TSE: CM) hits a new 52-week high in insider buying activity

Canadian Imperial Bank of Commerce (TSE: CM) (NYSE: CM) stocks hit a new 52-week high during mid-day trading on Wednesday after insider buying. The company was trading as high as $ 126.20 and was most recently trading at $ 125.59, with 712 033 shares changing hands. The stock previously closed at $ 124.39. Specifically, on Monday March 1, director Michael Capatides sold 37,820 shares in the company in a transaction. The stock was sold at an average price of $ 118.49 for a total value of $ 4,481,291.80. Following the sale, the director now holds 13,599 shares in the company valued at approximately $ 1,611,345.51. In addition, director Katharine Berghuis Stevenson acquired 400 shares in the Canadian Imperial Bank of Commerce in a transaction on Friday March 12th. The shares were acquired at an average cost of $ 124.20 per share for a total transaction of $ 49,680. Following the transaction, the director now directly holds 22,693 shares in the company valued at approximately $ 2,818,470.60. In the past ninety days, insiders have sold 61,895 shares in the company, valued at $ 7,433,702.

Several research analysts recently released reports on the company. In a research report on Wednesday, March 3rd, CSFB raised the Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating and raised its price target for the share from C $ 118.00 to 123 , 00C $ raised. BMO Capital Markets raised the shares of the Canadian Imperial Bank of Commerce from a “Market Perform” rating to an “Outperform” rating in a research note on Friday, February 26th, with a price target of 124.00 for the company C $ raised to C $ 130.00. National Bank Financial raised its target price for the Canadian Imperial Bank of Commerce from C $ 126.00 to C $ 130.00 and rated the share as “Outperform” in a research note on Friday, February 26th. The Royal Bank of Canada raised its price target for shares in the Canadian Imperial Bank of Commerce from C $ 130.00 to C $ 141.00 and rated the share as “Outperform” in a report on Friday, February 26th. Finally, in a research note on Friday, February 26, Scotiabank raised its target price for shares in the Canadian Imperial Bank of Commerce from C $ 139.00 to C $ 144.00. One analyst has given the stock a hold rating and seven have given the company’s stock a buy rating. The company currently has an average “Buy” rating and an average price target of $ 126.55.

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The company has a market capitalization of $ 56.25 billion and a value for money of 13.77. The company has a 50-day moving average price of $ 116.10 and a 200-day moving average price of $ 108.73.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. On Monday, March 29th, registered investors will be paid a dividend of $ 1.46 per share. That translates to an annualized dividend of $ 5.84 and a yield of 4.65%. The ex-dividend date of this dividend is Friday March 26th. The Canadian Imperial Bank of Commerce’s payout ratio is currently 63.86%.

Via the Canadian Imperial Bank of Commerce (TSE: CM)

The 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

See also: Asset Allocation, Balancing Your Investments

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