Canadian Imperial Bank of Commerce (TSE:CM) Hits New 1-Year High – Still a Buy?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$128.95 and last traded at C$128.94, with a volume of 367624 shares trading hands. The stock had previously closed at C$127.99.

Wall Street Analysts Forecast Growth

CM has been the topic of several recent analyst reports. Desjardins upped their target price on Canadian Imperial Bank of Commerce from C$132.00 to C$135.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Raymond James Financial lifted their price target on Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the company a “market perform” rating in a research note on Friday, December 5th. Jefferies Financial Group boosted their price target on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the stock a “hold” rating in a research report on Tuesday, November 25th. TD Securities increased their price target on shares of Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Finally, Royal Bank Of Canada upped their price objective on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and a consensus price target of C$126.09.

Canadian Imperial Bank of Commerce Trading Up 0.7%

The company has a fifty day moving average price of C$124.13 and a two-hundred day moving average price of C$112.71. The firm has a market capitalization of C$119.46 billion, a PE ratio of 15.04, a P/E/G ratio of 3.03 and a beta of 1.31.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its earnings results on Thursday, December 4th. The company reported C$2.21 EPS for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. The business had revenue of C$7.58 billion during the quarter. As a group, equities research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 28th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date is Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 45.27%.

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.