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

Key Points

• Canadian Imperial Bank of Commerce (TSE:CM) reached a new 52-week high of C$110.09 during trading, indicating strong investor interest with 686,843 shares traded.
• Analysts have varying outlooks on the stock, with target prices ranging from C$96.00 to C$113.00; the consensus rating remains a "Hold" with a target price of C$108.25.
• The bank declared a quarterly dividend of $0.97, offering an annual yield of 3.5% with a payout ratio of 46.07% as of the last reported quarter.

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$110.09 and last traded at C$109.99, with a volume of 686843 shares trading hands. The stock had previously closed at C$109.28.

Analyst Upgrades and Downgrades

CM has been the topic of a number of recent research reports. Scotiabank upped their target price on Canadian Imperial Bank of Commerce from C$101.00 to C$116.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Jefferies Financial Group upped their target price on Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research note on Wednesday, August 13th. Royal Bank Of Canada upped their target price on Canadian Imperial Bank of Commerce from C$112.00 to C$113.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. TD Securities upped their target price on Canadian Imperial Bank of Commerce from C$110.00 to C$117.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Finally, BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a research note on Friday, August 29th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of C$108.25.

Canadian Imperial Bank of Commerce Trading Up 0.6%

The company has a market cap of C$102.56 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 3.03 and a beta of 1.33. The business has a 50 day simple moving average of C$102.69 and a two-hundred day simple moving average of C$92.95.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Monday, July 28th were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 46.07%.

Insiders Place Their Bets

In other Canadian Imperial Bank of Commerce news, Senior Officer Shawn Beber sold 3,151 shares of the stock in a transaction on Thursday, June 19th. The stock was sold at an average price of C$94.61, for a total transaction of C$298,126.51. Also, Senior Officer Hratch Dikran Panossian sold 9,006 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of C$94.96, for a total value of C$855,240.38. Corporate insiders own 0.02% of the company's stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada's fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.