Canadian Imperial Bank of Commerce (TSE:CM) Hits New 12-Month High - Should You Buy?

Key Points

• CIBC hit a new 52-week high — shares traded as high as C$150.97 and last at C$148.59 on ~692,000 volume, exceeding the consensus average target of C$145.35.
• Multiple analysts have raised price targets and ratings recently (Scotiabank to C$153 with an "outperform"), leaving a consensus rating of Moderate Buy.
• CIBC reported C$2.76 EPS and C$8.40 billion in quarterly revenue, has a market cap of C$136.75B and a PE of 15.49, and announced a quarterly dividend of C$1.07 (annualized C$4.28) yielding 2.9% with a 41.5% payout ratio.

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM reached a new 52-week high on Tuesday . The stock traded as high as C$150.97 and last traded at C$148.59, with a volume of 691999 shares traded. The stock had previously closed at C$150.39.

Analyst Ratings Changes

CM has been the topic of several recent analyst reports. Scotiabank increased their price target on shares of Canadian Imperial Bank of Commerce from C$138.00 to C$153.00 and gave the company an "outperform" rating in a research note on Friday, February 27th. Barclays boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research report on Monday, March 2nd. 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. Desjardins increased 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 research report on Monday, February 9th. Finally, Canaccord Genuity Group lifted their price target on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the stock a "hold" rating in a research note on Friday, February 27th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of "Moderate Buy" and an average target price of C$145.35.

Canadian Imperial Bank of Commerce Trading Down 1.2%

The business has a 50 day moving average of C$135.86 and a 200-day moving average of C$127.05. The stock has a market cap of C$136.75 billion, a PE ratio of 15.49, a P/E/G ratio of 3.03 and a beta of 1.21.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last released its quarterly earnings results on Thursday, February 26th. The company reported C$2.76 EPS for the quarter. The company had revenue of C$8.40 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 14.76% and a net margin of 17.63%. Research analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 28th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Imperial Bank of Commerce's payout ratio is presently 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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