Canadian Imperial Bank of Commerce (TSE:CM) Reaches New 52-Week High – Here’s Why

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) shares hit a new 52-week high on Monday . The company traded as high as C$162.12 and last traded at C$161.86, with a volume of 81746 shares trading hands. The stock had previously closed at C$158.27.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CM shares. TD Securities raised their price objective on Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the stock a “buy” rating in a report on Friday, February 27th. BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Scotiabank raised their price target on 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. Royal Bank Of Canada cut their price target on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Finally, TD boosted their price objective on Canadian Imperial Bank of Commerce from C$153.00 to C$166.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and a consensus price target of C$152.86.

Canadian Imperial Bank of Commerce Stock Up 1.1%

The stock has a fifty day moving average of C$143.40 and a 200-day moving average of C$132.93. The stock has a market cap of C$148.54 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 3.03 and a beta of 1.30.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, February 26th. The company reported C$2.76 EPS for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 14.76% and a net margin of 17.63%.The firm had revenue of C$8.40 billion during the quarter. Equities research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 41.50%.

Canadian Imperial Bank of Commerce Company Profile

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.