Canadian Imperial Bank of Commerce (TSE:CM) Sets New 52-Week Low at $62.07

Canadian Imperial Bank of Commerce (TSE:CMGet Rating) (NYSE:CM) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$62.07 and last traded at C$62.44, with a volume of 1312655 shares changing hands. The stock had previously closed at C$64.28.

CM has been the topic of several recent analyst reports. National Bankshares boosted their price target on Canadian Imperial Bank of Commerce from C$83.50 to C$84.00 and gave the company an “outperform” rating in a research note on Friday, May 27th. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from C$165.00 to C$170.00 in a research note on Monday, February 28th. TD Securities dropped their price target on Canadian Imperial Bank of Commerce from C$82.00 to C$78.00 and set a “buy” rating on the stock in a research note on Friday, May 27th. Canaccord Genuity Group boosted their price target on Canadian Imperial Bank of Commerce from C$80.00 to C$83.00 in a research note on Friday, May 27th. Finally, Credit Suisse Group started coverage on Canadian Imperial Bank of Commerce in a research note on Friday, May 20th. They issued a “buy” rating and a C$81.00 price target on the stock. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$118.79.

The company has a fifty day moving average of C$100.70 and a 200-day moving average of C$136.58. The firm has a market cap of C$56.33 billion and a P/E ratio of 9.04.

Canadian Imperial Bank of Commerce (TSE:CMGet Rating) (NYSE:CM) last announced its quarterly earnings results on Thursday, May 26th. The company reported C$1.77 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.78 by C($0.01). The company had revenue of C$5.38 billion during the quarter, compared to analyst estimates of C$5.24 billion. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 7.6688236 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 28th. Investors of record on Tuesday, June 28th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, June 27th. This represents a $3.32 annualized dividend and a yield of 5.32%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 43.51%.

In related news, Director Laura Lee Dottori-Attanasio purchased 1,427 shares of the firm’s stock in a transaction that occurred on Monday, May 30th. The stock was acquired at an average price of C$70.00 per share, for a total transaction of C$99,894.28. Following the completion of the acquisition, the director now owns 10,105 shares of the company’s stock, valued at approximately C$707,380.32.

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 personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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