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

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM's share price hit a new 52-week high during trading on Monday . The stock traded as high as C$86.96 and last traded at C$86.40, with a volume of 106153 shares trading hands. The stock had previously closed at C$86.48.

Analysts Set New Price Targets

CM has been the subject of several research analyst reports. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating and upped their price objective for the company from C$74.00 to C$90.00 in a research note on Friday, August 30th. UBS Group set a C$70.00 target price on Canadian Imperial Bank of Commerce and gave the company a "neutral" rating in a research report on Tuesday, July 2nd. Royal Bank of Canada lifted their price target on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a "sector perform" rating in a research report on Friday, August 30th. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a "market perform" rating to a "buy" rating and raised their target price for the stock from C$75.00 to C$83.00 in a research report on Friday, August 30th. Finally, BMO Capital Markets upped their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the company an "outperform" rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of "Moderate Buy" and an average target price of C$79.15.

Canadian Imperial Bank of Commerce Price Performance

The business's 50-day moving average price is C$79.24 and its two-hundred day moving average price is C$71.22. The firm has a market cap of C$81.56 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last announced its quarterly earnings data on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, beating analysts' consensus estimates of C$1.75 by C$0.18. The business had revenue of C$6.60 billion during the quarter, compared to the consensus estimate of C$6.31 billion. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. As a group, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a dividend yield of ∞. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 52.10%.

Insider Activity at Canadian Imperial Bank of Commerce

In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total value of C$441,791.70. In related news, Senior Officer Shawn Beber sold 10,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of C$81.80, for a total value of C$817,960.00. Also, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the business's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total value of C$441,791.70. Over the last 90 days, insiders have sold 203,057 shares of company stock worth $16,823,249. 0.02% of the stock is owned by insiders.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.