Canadian Imperial Bank of Commerce (TSE:CM) Reaches New 1-Year High – Time to Buy?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) shares hit a new 52-week high during mid-day trading 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.

Analysts Set New Price Targets

Several analysts recently commented on CM shares. Desjardins increased their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Scotiabank lifted their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. TD Securities reduced their target price on Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating for the company in a report on Friday, August 30th. Canaccord Genuity Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group lowered their price objective on shares of Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and a consensus target price of C$79.15.

Canadian Imperial Bank of Commerce Trading Up 0.1 %

The firm has a market cap of C$81.63 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 3.03 and a beta of 1.12. The firm has a 50-day moving average of C$79.57 and a two-hundred day moving average of C$71.33.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, August 29th. The company reported C$1.93 earnings per share for the quarter, beating 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 analysts’ expectations 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%. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

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

Insider Activity

In other news, Director Harry Kenneth Culham sold 50,000 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of C$81.87, for a total transaction of C$4,093,500.00. In other news, Director Harry Kenneth Culham sold 50,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of C$81.87, for a total value of C$4,093,500.00. Also, Senior Officer Sandy Sharman sold 2,275 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$83.04, for a total value of C$188,916.00. Over the last 90 days, insiders sold 203,057 shares of company stock valued at $16,823,249. 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.