Canadian Imperial Bank of Commerce (TSE:CM) Hits New 1-Year High – Time to 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$143.94 and last traded at C$143.79, with a volume of 597418 shares trading hands. The stock had previously closed at C$142.66.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CM shares. Canaccord Genuity Group raised their target price on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the company a “hold” rating in a research note on Friday, February 27th. Desjardins raised their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a research note on Monday, February 9th. BMO Capital Markets raised their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. TD Securities raised their target price on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Royal Bank Of Canada cut their target price on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$145.35.

Canadian Imperial Bank of Commerce Stock Performance

The company’s fifty day moving average price is C$133.82 and its 200-day moving average price is C$125.54. The stock has a market cap of C$132.61 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 3.03 and a beta of 1.21.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, February 26th. The company reported C$2.76 earnings per share (EPS) for the quarter. The firm had revenue of C$8.40 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. Analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a yield of 3.0%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 41.50%.

About Canadian Imperial Bank of Commerce

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.