Canadian Imperial Bank of Commerce (TSE:CM) Sets New 12-Month High – Time to Buy?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as C$170.18 and last traded at C$169.54, with a volume of 717659 shares. The stock had previously closed at C$169.48.

Analyst Ratings Changes

CM has been the topic of several analyst reports. Jefferies Financial Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a report on Wednesday, May 20th. National Bank Financial upped their price target on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a research report on Friday, May 15th. Desjardins lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Raymond James Financial cut their price target on Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a “market perform” rating on the stock in a report on Friday, May 29th. Finally, TD decreased their price objective on Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating for the company in a research note on Friday, May 29th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$153.59.

Canadian Imperial Bank of Commerce Stock Performance

The stock has a market cap of C$154.35 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 3.03 and a beta of 1.39. The firm has a fifty day moving average price of C$157.89 and a 200 day moving average price of C$142.67.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The company had revenue of C$8.01 billion during the quarter. On average, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 28th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is 40.48%.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, insider Amy Florence South sold 1,086 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of C$162.15, for a total value of C$176,094.90. Also, insider Christopher John Anderson sold 8,490 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the completion of the transaction, the insider owned 6,252 shares of the company’s stock, valued at approximately C$972,186. This represents a 57.59% decrease in their ownership of the stock. Insiders have sold a total of 17,776 shares of company stock valued at $2,817,744 over the last ninety days. Company insiders own 0.02% of the company’s stock.

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.