Canadian Imperial Bank of Commerce (TSE:CM) Hits New 52-Week High – Still a Buy?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s share price hit a new 52-week high during mid-day 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 changing hands. The stock had previously closed at C$122.27.

Analysts Set New Price Targets

CM has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their target price on Canadian Imperial Bank of Commerce from C$112.00 to C$113.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. TD Securities boosted their target price on shares of Canadian Imperial Bank of Commerce from C$117.00 to C$124.00 in a report on Monday, November 10th. Canaccord Genuity Group boosted their target price on shares of 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 lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$113.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Finally, Scotiabank boosted their price objective on Canadian Imperial Bank of Commerce from C$116.00 to C$121.00 in a report on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$109.25.

Canadian Imperial Bank of Commerce Price Performance

The company has a 50 day moving average price of C$113.90 and a two-hundred day moving average price of C$103.08. The stock has a market cap of C$113.77 billion, a PE ratio of 14.80, a PEG ratio of 3.03 and a beta of 1.42.

Canadian Imperial Bank of Commerce Dividend Announcement

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

Canadian Imperial Bank of Commerce Company Profile

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.