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 hit a new 52-week high during trading on Wednesday . The stock traded as high as C$138.18 and last traded at C$137.30, with a volume of 570756 shares traded. The stock had previously closed at C$134.53.

Key Canadian Imperial Bank of Commerce News

Here are the key news stories impacting Canadian Imperial Bank of Commerce this week:

• Positive Sentiment: TD Securities raised its price target to C$153 and kept a “Buy” rating (≈11% upside versus the current price). BayStreet.CA
• Positive Sentiment: BMO Capital Markets bumped its target to C$150 and set an “Outperform” rating (≈8.9% upside). BayStreet.CA
• Positive Sentiment: Royal Bank of Canada raised its target to C$158 and maintained an “Outperform” (≈14.7% upside). BayStreet.CA
• Positive Sentiment: Scotiabank lifted its target to C$153 with an “Outperform” rating (≈11% upside). BayStreet.CA TickerReport
• Neutral Sentiment: Raymond James raised its target to C$148.50 but retained a “Market Perform” rating (≈7.8% upside). BayStreet.CA
• Neutral Sentiment: National Bank Financial increased its target to C$150 with a “Sector Perform” rating (≈8.9% upside). BayStreet.CA
• Neutral Sentiment: Canaccord Genuity lifted its target to C$145 but kept a “Hold” rating (≈5.2% upside). BayStreet.CA
• Neutral Sentiment: CM reported quarterly results: EPS C$2.76, revenue C$8.40B, ROE 12.61%, net margin 27.87% — solid fundamentals but no headline guidance change in the releases cited. MarketBeat Earnings

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group raised their price objective on Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the stock a “hold” rating in a research report on Friday. Desjardins increased their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a research report on Monday, February 9th. BMO Capital Markets raised 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 report on Friday. Scotiabank upped their price objective on shares of Canadian Imperial Bank of Commerce from C$138.00 to C$153.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Royal Bank Of Canada lifted their target price on shares of Canadian Imperial Bank of Commerce from C$134.00 to C$158.00 and gave the stock an “outperform” rating in a research note on Friday. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$146.05.

Canadian Imperial Bank of Commerce Stock Down 2.9%

The firm has a market capitalization of C$127.68 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26. The company’s 50 day moving average is C$128.99 and its 200-day moving average is C$119.21.

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 for the quarter. The firm had revenue of C$8.40 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. On average, analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th were issued a $1.07 dividend. The ex-dividend date was Monday, December 29th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 annualized dividend and a yield of 3.1%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.27%.

Insider Buying and Selling

In other news, insider Frank Guse sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the completion of the sale, the insider owned 1,359 shares in the company, valued at C$172,810.44. The trade was a 78.63% decrease in their ownership of the stock. Company insiders own 0.02% of the company’s stock.

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.