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

Key Points

• Shares hit a new 52-week high (traded as high as C$143.94) after several analysts raised targets; the consensus rating is Moderate Buy with an average target of C$145.35.
• CIBC reported quarterly EPS of C$2.76 on C$8.40 billion revenue (net margin 17.63%, ROE 14.76%) and declared a quarterly dividend of $1.07 (annualized $4.28) for a 3.0% yield.

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM hit a new 52-week high during trading on Monday . The company traded as high as C$143.94 and last traded at C$143.79, with a volume of 597418 shares changing hands. The stock had previously closed at C$142.66.

Analyst Ratings Changes

A number of analysts have commented on CM shares. BMO Capital Markets upped their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the company an "outperform" rating in a report on Friday, February 27th. Canaccord Genuity Group upped their target price on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the company a "hold" rating in a report on Friday, February 27th. Barclays upped their target price on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a report on Monday, March 2nd. Desjardins upped their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a "buy" rating in a report on Monday, February 9th. Finally, Raymond James Financial upped their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$148.50 and gave the company a "market perform" rating in a report on Friday, February 27th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$145.35.

Canadian Imperial Bank of Commerce Stock Up 1.0%

The stock's 50 day moving average price is C$133.82 and its 200-day moving average price is C$125.54. The stock has a market capitalization of C$132.61 billion, a PE ratio of 15.03, a PEG ratio of 3.03 and a beta of 1.21.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last announced its quarterly earnings data on Thursday, February 26th. The company reported C$2.76 earnings per share (EPS) for the quarter. The firm had revenue of C$8.40 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 28th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.0%. Canadian Imperial Bank of Commerce's dividend payout ratio is 41.50%.

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.

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