Canadian Imperial Bank of Commerce (TSE:CM) Reaches New 12-Month High – Still a Buy?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) shares hit a new 52-week high during trading on Thursday . The stock traded as high as C$134.24 and last traded at C$133.47, with a volume of 157412 shares. The stock had previously closed at C$132.41.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CM. Desjardins increased their target price on Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Scotiabank increased their price objective on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a report on Friday, January 9th. TD Securities raised their price objective on Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research report on Monday, February 9th. BMO Capital Markets upped their target price on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research report on Wednesday, December 17th. Finally, Jefferies Financial Group lifted their price target on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research report on Wednesday, February 11th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$134.30.

Canadian Imperial Bank of Commerce Price Performance

The business has a 50-day simple moving average of C$127.88 and a 200 day simple moving average of C$117.78. The firm has a market cap of C$123.90 billion, a PE ratio of 15.60, a PEG ratio of 3.03 and a beta of 1.26.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, December 4th. The company reported C$2.21 earnings per share for the quarter. The firm had revenue of C$7.58 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%. On average, equities analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share 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 given 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 dividend on an annualized basis and a dividend yield of 3.2%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 45.27%.

Insider Activity

In related news, insider Frank Guse sold 5,000 shares of Canadian Imperial Bank of Commerce stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the transaction, the insider owned 1,359 shares in the company, valued at approximately C$172,810.44. The trade was a 78.63% decrease in their position. 0.02% of the stock is currently owned by company insiders.

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.