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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$87.98 and last traded at C$87.95, with a volume of 202152 shares traded. The stock had previously closed at C$87.32.

Analyst Upgrades and Downgrades

CM has been the subject of a number of research analyst reports. Barclays upped their price target on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a research note on Friday, August 30th. UBS Group set a C$70.00 price objective on Canadian Imperial Bank of Commerce and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. National Bankshares raised their target price on Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Royal Bank of Canada boosted their price target on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a research report on Friday, August 30th. Finally, Jefferies Financial Group reduced their price objective 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 report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued 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$79.15.

Canadian Imperial Bank of Commerce Stock Performance

The company’s 50-day moving average is C$80.97 and its 200 day moving average is C$71.88. The firm has a market cap of C$83.11 billion, a PE ratio of 12.73, a P/E/G ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.18. The company 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 return on equity of 12.37% and a net margin of 29.56%. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 52.10%.

Insider Buying and Selling

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

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.