Canadian Imperial Bank of Commerce (TSE:CM) Hits New 52-Week High - Time to Buy?

Key Points

• Canadian Imperial Bank of Commerce shares hit a new 52-week high, trading as high as C$165.25 after previously closing at C$163.53.
• Analyst sentiment remains mixed but constructive: the stock carries a Moderate Buy consensus, with six Buy ratings and five Hold ratings, and a consensus target price of C$153.59.
• The bank recently reported C$2.54 EPS on revenue of C$8.01 billion, and it also объявed a quarterly dividend of $1.07 per share, implying a 2.6% yield.

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$165.25 and last traded at C$165.07, with a volume of 378813 shares traded. The stock had previously closed at C$163.53.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CM. Canaccord Genuity Group raised their price objective on Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the company a "hold" rating in a research note on Tuesday. National Bank Financial boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a "sector perform" rating in a research note on Friday, May 15th. Jefferies Financial Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research note on Wednesday, May 20th. Desjardins boosted their price target on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada lowered their target price on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an "outperform" rating for the company in a research note on Wednesday, March 25th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of "Moderate Buy" and a consensus target price of C$153.59.

Canadian Imperial Bank of Commerce Price Performance

The company has a 50-day simple moving average of C$156.55 and a two-hundred day simple moving average of C$141.53. The stock has a market capitalization of C$151.08 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 3.03 and a beta of 1.39.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last posted its earnings results on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. The firm had revenue of C$8.01 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%. Research analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 28th will be issued a $1.07 dividend. The ex-dividend date is Monday, June 29th. This represents a $4.28 annualized dividend and a dividend yield of 2.6%. Canadian Imperial Bank of Commerce's dividend payout ratio is 40.48%.

Insider Transactions at Canadian Imperial Bank of Commerce

In other news, insider Stephen Alan Scholtz sold 6,000 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$162.70, for a total transaction of C$976,200.00. Also, insider Amy Florence South sold 1,200 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of C$160.92, for a total transaction of C$193,104.00. Insiders have sold 17,776 shares of company stock valued at $2,817,744 in the last quarter. Insiders own 0.02% of the company's stock.

Canadian Imperial Bank of Commerce Company Profile

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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