Canadian Imperial Bank of Commerce (TSE:CM) Sets New 1-Year High – Still a Buy?

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) hit a new 52-week high on Tuesday . The company traded as high as C$154.35 and last traded at C$154.35, with a volume of 328629 shares trading hands. The stock had previously closed at C$153.34.

Wall Street Analyst Weigh In

Several research analysts have commented on CM shares. Canaccord Genuity Group boosted their price target on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the stock a “hold” rating in a report on Friday, February 27th. Barclays boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research report on Monday, March 2nd. Jefferies Financial Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research report on Wednesday, February 11th. TD Securities upped their price objective on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Scotiabank upped their price target on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$159.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$150.68.

Canadian Imperial Bank of Commerce Stock Performance

The firm has a market capitalization of C$142.35 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 3.03 and a beta of 1.30. The company’s fifty day moving average price is C$141.57 and its two-hundred day moving average price is C$131.77.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, February 26th. The company reported C$2.76 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. The business had revenue of C$8.40 billion for the quarter. On average, equities analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 28th were given a $1.07 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $4.28 annualized dividend and a dividend yield of 2.8%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 41.50%.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.