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

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

Analyst Ratings Changes

A number of analysts have recently issued reports on CM shares. National Bank Financial lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a research note on Friday. Barclays lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research note on Monday, March 2nd. Royal Bank Of Canada dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Canaccord Genuity Group lifted 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 research note on Friday, February 27th. Finally, BMO Capital Markets lifted their price target on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average target price of C$150.68.

Canadian Imperial Bank of Commerce Trading Up 0.9%

The stock’s 50-day moving average price is C$141.57 and its 200-day moving average price is C$131.77. The company has a market capitalization of C$142.35 billion, a P/E ratio of 16.13, a P/E/G ratio of 3.03 and a beta of 1.30.

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

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 28th were issued a dividend of $1.07 per share. 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 payout ratio 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.