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
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15 REITS analysts can’t stop recommending
There are more than 200 publicly traded Real Estate Investment Trusts (REITs) that you can buy through your brokerage account. With the sheer number of REITs, it can be difficult to identify which real estate stocks will outperform the market.
Fortunately, Wall Street’s brightest minds have already done this for us. Every year analysts make approximately 4,000 different recommendations for REITs. Analysts don’t always get their buy recommendations correctly, but it pays to take a close look when multiple analysts from different brokers and research firms give the same REIT “buy” and “buy” rating.
This slideshow lists the 15 REITs that have received the highest average analyst recommendations from Wall Street stock analysts over the past 12 months.
Check out the “15 REITS Analysts Cant Stop Recommend”.