Canadian Imperial Bank of Commerce (NYSE:CM) Sets New 1-Year High - Should You Buy?

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM's share price reached a new 52-week high on Friday . The stock traded as high as $67.80 and last traded at $67.85, with a volume of 246849 shares trading hands. The stock had previously closed at $66.95.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday. Scotiabank started coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Finally, Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $63.91 billion, a PE ratio of 12.71, a P/E/G ratio of 1.62 and a beta of 1.06. The business has a fifty day moving average of $60.94 and a 200 day moving average of $61.91.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, March 28th were paid a dividend of $0.6723 per share. The ex-dividend date was Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 3.96%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 48.03%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CM. Acadian Asset Management LLC grew its position in Canadian Imperial Bank of Commerce by 1,036.9% in the first quarter. Acadian Asset Management LLC now owns 1,048,200 shares of the bank's stock worth $58,942,000 after buying an additional 956,000 shares during the last quarter. Intech Investment Management LLC lifted its stake in Canadian Imperial Bank of Commerce by 64.4% in the first quarter. Intech Investment Management LLC now owns 275,959 shares of the bank's stock valued at $15,521,000 after acquiring an additional 108,110 shares during the last quarter. Zurich Insurance Group Ltd FI boosted its holdings in Canadian Imperial Bank of Commerce by 1,784.1% in the first quarter. Zurich Insurance Group Ltd FI now owns 685,827 shares of the bank's stock worth $38,622,000 after purchasing an additional 649,427 shares in the last quarter. Sciencast Management LP acquired a new position in Canadian Imperial Bank of Commerce during the first quarter valued at approximately $546,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 405.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,187,068 shares of the bank's stock worth $292,032,000 after buying an additional 4,160,938 shares during the period. Institutional investors own 49.88% of the company's stock.

About Canadian Imperial Bank of Commerce

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.