Canadian Imperial Bank of Commerce (TSE:CM) Hits New 1-Year High – Here’s What Happened

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) reached a new 52-week high during trading on Wednesday . The company traded as high as C$127.00 and last traded at C$126.89, with a volume of 776982 shares. The stock had previously closed at C$125.40.

Analyst Upgrades and Downgrades

CM has been the topic of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Canadian Imperial Bank of Commerce from C$102.00 to C$111.00 and gave the company a “hold” rating in a report on Friday, August 29th. Desjardins raised their price objective on Canadian Imperial Bank of Commerce from C$126.00 to C$132.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Royal Bank Of Canada lifted their price objective on Canadian Imperial Bank of Commerce from C$114.00 to C$131.00 in a research note on Friday, December 5th. National Bankshares increased their target price on shares of Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the stock a “sector perform” rating in a research report on Friday, December 5th. Finally, Jefferies Financial Group lifted their price target on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the company a “hold” rating in a research report on Tuesday, November 25th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$124.64.

Canadian Imperial Bank of Commerce Stock Up 1.0%

The firm has a market cap of C$117.41 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 3.03 and a beta of 1.45. The company has a 50 day moving average of C$117.43 and a 200 day moving average of C$106.76.

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 (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%.The company had revenue of C$7.58 billion for the quarter. As a group, equities research analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

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 issued a $0.97 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $3.88 annualized dividend and a yield of 3.1%. Canadian Imperial Bank of Commerce’s dividend payout ratio 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.