Canadian Imperial Bank of Commerce (TSE:CM) Reaches New 1-Year High – Should You Buy?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) shares reached a new 52-week high during trading on Monday . The company traded as high as C$90.57 and last traded at C$90.39, with a volume of 824533 shares changing hands. The stock had previously closed at C$89.55.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CM. Jefferies Financial Group cut their target price on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Scotiabank upped their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and lifted their target price for the stock from C$74.00 to C$90.00 in a research note on Friday, August 30th. National Bankshares raised their price objective on Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, BMO Capital Markets upped their price target on Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$79.15.

Canadian Imperial Bank of Commerce Stock Performance

The company has a market capitalization of C$84.75 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The business’s 50 day moving average price is C$84.13 and its two-hundred day moving average price is C$73.43.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, beating the consensus estimate of C$1.75 by C$0.18. The business had revenue of C$6.60 billion during the quarter, compared to analyst estimates of C$6.31 billion. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. On average, sell-side analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were paid a $0.90 dividend. The ex-dividend date was Friday, September 27th. This represents a $3.60 annualized dividend and a yield of 4.01%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.10%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total value of C$441,791.70. In other Canadian Imperial Bank of Commerce news, Senior Officer Shawn Beber sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of C$81.80, for a total value of C$817,960.00. Also, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total transaction of C$441,791.70. Insiders sold 203,057 shares of company stock valued at $16,823,249 in the last quarter. Company insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.