Canadian Imperial Bank of Commerce (TSE:CM) Reaches New 52-Week High – Time to Buy?
by Renee Jackson · The Cerbat GemCanadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) reached a new 52-week high during trading on Monday . The stock traded as high as C$129.78 and last traded at C$129.63, with a volume of 3256250 shares trading hands. The stock had previously closed at C$125.84.
Wall Street Analyst Weigh In
CM has been the topic of a number of research reports. National Bankshares raised their price objective 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 report on Friday, December 5th. Raymond James Financial increased their price target on shares of Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the stock a “market perform” rating in a research report on Friday, December 5th. BMO Capital Markets boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research report on Wednesday, December 17th. Desjardins upped their price objective on Canadian Imperial Bank of Commerce from C$132.00 to C$135.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Finally, Royal Bank Of Canada lifted their target price on Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$126.09.
Check Out Our Latest Stock Report on CM
Canadian Imperial Bank of Commerce Stock Performance
The firm has a market cap of C$120.12 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 3.03 and a beta of 1.31. The stock has a 50 day simple moving average of C$125.63 and a two-hundred day simple moving average of C$115.10.
Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last posted its earnings results on Thursday, December 4th. The company reported C$2.21 EPS for the quarter. The firm had revenue of C$7.58 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%. 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 Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 28th were issued a dividend of $1.07 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Monday, December 29th. This represents a $4.28 annualized dividend and a dividend yield of 3.3%. Canadian Imperial Bank of Commerce’s payout ratio is presently 45.27%.
Insider Transactions at Canadian Imperial Bank of Commerce
In related news, insider Frank Guse sold 5,000 shares of the stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the sale, the insider directly owned 1,359 shares of the company’s stock, valued at approximately C$172,810.44. This represents a 78.63% decrease in their ownership of the stock. 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.