Canadian Imperial Bank of Commerce (TSE:CM) Sets New 52-Week High - Should You Buy?

Key Points

• Canadian Imperial Bank of Commerce (TSE:CM) shares reached a new 52-week high of C$115.23, with a closing price of C$115.21 after trading 557,572 shares.
• Analysts have mixed ratings, with an average rating of "Hold" and target price consensus at C$108.67; several investment firms have recently raised their price objectives for the stock.
• The bank announced a quarterly dividend of $0.97 per share, representing an annualized dividend of $3.88 and a yield of 3.4%, with a payout ratio of 46.07%.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM shares hit a new 52-week high on Friday . The company traded as high as C$115.23 and last traded at C$115.21, with a volume of 557572 shares traded. The stock had previously closed at C$114.04.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price objective on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$111.00 and gave the stock a "hold" rating in a research note on Friday, August 29th. Jefferies Financial Group lifted their target price on shares of 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 lifted their target price on shares of Canadian Imperial Bank of Commerce from C$112.00 to C$113.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Barclays lifted their target price on shares of Canadian Imperial Bank of Commerce from C$96.00 to C$106.00 and gave the stock an "underweight" rating in a research note on Friday, August 29th. Finally, Scotiabank lifted their target price on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$121.00 in a research note on Friday, October 10th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$108.67.

Canadian Imperial Bank of Commerce Trading Up 1.1%

The company's 50 day moving average price is C$109.42 and its 200-day moving average price is C$98.64. The company has a market capitalization of C$107.14 billion, a PE ratio of 13.94, a PEG ratio of 3.03 and a beta of 1.37.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Tuesday, October 28th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $3.88 annualized dividend and a dividend yield of 3.4%. Canadian Imperial Bank of Commerce's payout ratio is currently 46.07%.

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.

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