Canadian Imperial Bank of Commerce (TSE:CM) Sets New 1-Year Low at $63.64

Canadian Imperial Bank of Commerce (TSE:CM – Get Rating) (NYSE:CM) shares reached a new 52-week low on Thursday . The stock traded as low as C$63.64 and last traded at C$64.21, with a volume of 1277852 shares. The stock had previously closed at C$65.76.

Several analysts have recently commented on CM shares. BMO Capital Markets increased their target price on shares of Canadian Imperial Bank of Commerce from C$165.00 to C$170.00 in a report on Monday, February 28th. Canaccord Genuity Group raised their price objective on shares of Canadian Imperial Bank of Commerce from C$80.00 to C$83.00 in a report on Friday, May 27th. National Bankshares raised their price objective on shares of Canadian Imperial Bank of Commerce from C$83.50 to C$84.00 and gave the stock an “outperform” rating in a report on Friday, May 27th. Credit Suisse Group assumed coverage on shares of Canadian Imperial Bank of Commerce in a report on Friday, May 20th. They set a “buy” rating and a C$81.00 price objective for the company. Finally, Scotiabank cut their target price on shares of Canadian Imperial Bank of Commerce from C$166.00 to C$83.00 and set an “outperform” rating for the company in a research report on Friday, May 20th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$118.79.

The firm has a market cap of C$57.52 billion and a P/E ratio of 9.32. The firm’s fifty day moving average is C$108.81 and its two-hundred day moving average is C$139.24.

Canadian Imperial Bank of Commerce (TSE:CM – Get Rating) (NYSE:CM) last released its quarterly earnings results on Thursday, May 26th. The company reported C$1.77 earnings per share for the quarter, missing the consensus estimate of C$1.78 by C($0.01). The company had revenue of C$5.38 billion for the quarter, compared to analyst estimates of C$5.24 billion. Equities analysts predict that Canadian Imperial Bank of Commerce will post 7.6699998 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 28th. Investors of record on Tuesday, June 28th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date is Monday, June 27th. Canadian Imperial Bank of Commerce’s payout ratio is 43.51%.

In other news, Director Laura Lee Dottori-Attanasio purchased 1,427 shares of the company’s stock in a transaction that occurred on Monday, May 30th. The shares were bought at an average price of C$70.00 per share, for a total transaction of C$99,894.28. Following the purchase, the director now directly owns 10,105 shares in the company, 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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