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

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM's share price reached a new 52-week high on Monday . The stock traded as high as C$87.98 and last traded at C$87.95, with a volume of 202152 shares traded. The stock had previously closed at C$87.32.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. 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 stock from C$74.00 to C$90.00 in a research report on Friday, August 30th. Royal Bank of Canada lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a "sector perform" rating in a report on Friday, August 30th. TD Securities lowered their price target on Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a "buy" rating on the stock in a research report on Friday, August 30th. Cormark raised Canadian Imperial Bank of Commerce from a "market perform" rating to a "buy" rating and lifted their price target for the stock from C$75.00 to C$83.00 in a research note on Friday, August 30th. Finally, BMO Capital Markets increased their price objective on 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$79.15.

Canadian Imperial Bank of Commerce Stock Performance

The firm has a 50-day moving average price of C$80.27 and a 200-day moving average price of C$71.60. The stock has a market cap of C$83.11 billion, a P/E ratio of 12.74, 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 released its earnings results on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, topping analysts' consensus estimates of C$1.75 by C$0.18. The firm had revenue of C$6.60 billion for the quarter, compared to analysts' expectations 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%. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, September 27th. This represents a $3.60 annualized dividend and a dividend yield of 4.09%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 52.10%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Director Harry Kenneth Culham sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of C$83.42, for a total value of C$4,170,750.00. In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the company's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total transaction of C$441,791.70. Also, Director Harry Kenneth Culham sold 50,000 shares of the firm's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of C$83.42, for a total value of C$4,170,750.00. In the last 90 days, insiders have sold 203,057 shares of company stock worth $16,823,249. Company insiders own 0.02% of the company's stock.

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.