Canadian Imperial Bank of Commerce (TSE:CM) Sets New 12-Month High – Should You Buy?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s stock price reached a new 52-week high on Monday . The stock traded as high as C$143.94 and last traded at C$143.79, with a volume of 597418 shares trading hands. The stock had previously closed at C$142.66.

Analyst Ratings Changes

A number of research firms recently issued reports on CM. Raymond James Financial increased their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$148.50 and gave the stock a “market perform” rating in a research note on Friday, February 27th. Scotiabank lifted their price target 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, February 27th. Barclays upped their price objective on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a report on Monday, March 2nd. Jefferies Financial Group increased their price objective on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research report on Wednesday, February 11th. Finally, Desjardins raised their target price on Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$145.35.

Canadian Imperial Bank of Commerce Stock Performance

The business has a fifty day moving average of C$134.45 and a 200-day moving average of C$126.01. The company has a market capitalization of C$134.44 billion, a P/E ratio of 15.23, a PEG ratio of 3.03 and a beta of 1.21.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, February 26th. The company reported C$2.76 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 business had revenue of C$8.40 billion during the quarter. Sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 28th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 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.