Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$109.78 and last traded at C$109.83, with a volume of 1010875 shares traded. The stock had previously closed at C$110.83.

Several brokerages have issued reports on CM. TD Securities upped their target price on Canadian Imperial Bank of Commerce from C$140.00 to C$145.00 and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Barclays dropped their price objective on Canadian Imperial Bank of Commerce from C$130.00 to C$127.00 in a research note on Friday, November 30th. National Bank Financial increased their price objective on Canadian Imperial Bank of Commerce from C$124.00 to C$127.00 and gave the company a “sector perform” rating in a research note on Friday, August 24th. Eight Capital dropped their price objective on Canadian Imperial Bank of Commerce from C$132.00 to C$131.00 in a research note on Friday, November 30th. Finally, BMO Capital Markets increased their price objective on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 and gave the company a “market perform” rating in a research note on Friday, August 24th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Canadian Imperial Bank of Commerce presently has an average rating of “Buy” and a consensus target price of C$130.82.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 28th. Stockholders of record on Friday, December 28th will be issued a dividend of $1.36 per share. The ex-dividend date is Thursday, December 27th. This represents a $5.44 annualized dividend and a dividend yield of 5.06%. Canadian Imperial Bank of Commerce’s payout ratio is presently 45.67%.

In related news, Director Victor George Dodig sold 16,000 shares of the stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of C$122.91, for a total transaction of C$1,966,560.00. Also, Director Barry Lee Zubrow acquired 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The shares were acquired at an average cost of C$84.76 per share, for a total transaction of C$127,140.00.

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About Canadian Imperial Bank of Commerce (TSE:CM)

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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