Canadian Imperial Bank of Commerce (TSE:CM) Hits New 12-Month High at $69.08

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) hit a new 52-week high on Tuesday . The company traded as high as C$69.08 and last traded at C$69.05, with a volume of 682336 shares. The stock had previously closed at C$68.32.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CM. Scotiabank boosted their target price on Canadian Imperial Bank of Commerce from C$67.00 to C$69.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Cormark boosted their price target on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$68.00 in a report on Friday, March 1st. Desjardins boosted their price target on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$66.00 and gave the stock a “hold” rating in a report on Friday, March 1st. National Bankshares upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$62.00 to C$71.00 in a research note on Wednesday, December 20th. Finally, Canaccord Genuity Group upped their price objective on Canadian Imperial Bank of Commerce from C$64.00 to C$67.00 and gave the company a “hold” rating in a research note on Friday, March 1st. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$65.38.

Canadian Imperial Bank of Commerce Trading Down 0.7 %

The firm has a market cap of C$63.64 billion, a PE ratio of 10.38, a PEG ratio of 3.01 and a beta of 1.10. The business has a fifty day moving average of C$63.61 and a 200-day moving average of C$58.39.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, February 29th. The company reported C$1.81 earnings per share for the quarter, beating the consensus estimate of C$1.69 by C$0.12. The firm had revenue of C$6.22 billion for the quarter, compared to analysts’ expectations of C$6.07 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.14% and a net margin of 29.50%. On average, equities analysts forecast that Canadian Imperial Bank of Commerce will post 6.8183633 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, March 28th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 55.05%.

Canadian Imperial Bank of Commerce Company Profile

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.