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 hit a new 52-week high during trading on Wednesday . The stock traded as high as C$95.08 and last traded at C$94.91, with a volume of 246906 shares trading hands. The stock had previously closed at C$94.26.

Analysts Set New Price Targets

Several research analysts have commented on CM shares. Canaccord Genuity Group boosted their target price on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research note on Friday, December 6th. BMO Capital Markets upped their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. National Bankshares raised their target price on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. Desjardins boosted their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Cormark increased their price target on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$90.00.

Canadian Imperial Bank of Commerce Trading Up 0.7 %

The stock has a market capitalization of C$89.67 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The business has a fifty day simple moving average of C$87.52 and a 200 day simple moving average of C$76.59.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 4.09%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.10%.

Insider Activity

In other news, Director Harry Kenneth Culham sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of C$83.42, for a total transaction of C$4,170,750.00. Also, Senior Officer Christina Charlotte Kramer sold 37,022 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of C$83.40, for a total value of C$3,087,634.80. Insiders sold a total of 137,527 shares of company stock valued at $11,469,997 over the last three months. Corporate 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.