Canadian Imperial Bank of Commerce (TSE:CM) Reaches New 52-Week High – Should You Buy?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) shares reached a new 52-week high on Monday . The stock traded as high as C$86.96 and last traded at C$86.40, with a volume of 106153 shares traded. The stock had previously closed at C$86.48.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Barclays raised 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 report on Friday, August 30th. TD Securities cut their price objective on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Canaccord Genuity Group boosted their price target on Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research note on Tuesday, August 13th. Finally, 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 report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$79.15.

Canadian Imperial Bank of Commerce Stock Performance

The stock has a market capitalization of C$81.60 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The stock has a 50-day simple moving average of C$79.24 and a 200 day simple moving average of C$71.22.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Equities analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be paid a $0.90 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.60 annualized dividend and a dividend yield of 4.17%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.10%.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the stock in a transaction dated 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 news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred 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. Also, Director Harry Kenneth Culham sold 800 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of C$83.20, for a total value of C$66,560.00. Insiders have sold 203,057 shares of company stock worth $16,823,249 in the last ninety days. 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.