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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) reached a new 52-week high during trading on Monday . The stock traded as high as C$122.45 and last traded at C$122.11, with a volume of 266578 shares traded. The stock had previously closed at C$122.27.

Analysts Set New Price Targets

Several brokerages have weighed in on CM. Scotiabank raised their target price on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$121.00 in a research note on Friday, October 10th. TD Securities increased their price objective on Canadian Imperial Bank of Commerce from C$117.00 to C$124.00 in a report on Monday, November 10th. Barclays boosted their target price on Canadian Imperial Bank of Commerce from C$96.00 to C$106.00 and gave the stock an “underweight” rating in a research note on Friday, August 29th. National Bankshares set a C$110.00 price target on Canadian Imperial Bank of Commerce and gave the company a “sector perform” rating in a research note on Monday, September 22nd. Finally, Desjardins raised their price target on Canadian Imperial Bank of Commerce from C$106.00 to C$113.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$109.25.

Canadian Imperial Bank of Commerce Stock Down 1.7%

The business has a 50 day moving average price of C$114.42 and a 200 day moving average price of C$103.55. The stock has a market cap of C$111.54 billion, a PE ratio of 14.51, a P/E/G ratio of 3.03 and a beta of 1.42.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 28th. Investors of record on Tuesday, October 28th were paid a $0.97 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $3.88 dividend on an annualized basis and a yield of 3.2%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 46.07%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.