Canadian Imperial Bank of Commerce (TSE:CM) Hits New 12-Month High - What's Next?

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$88.56 and last traded at C$87.59, with a volume of 663645 shares trading hands. The stock had previously closed at C$87.88.

Wall Street Analysts Forecast Growth

CM has been the subject of a number of research reports. Bank of America raised shares of Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating and boosted their price target for the company from C$74.00 to C$90.00 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 boosted their target price for the company from C$75.00 to C$83.00 in a report on Friday, August 30th. Royal Bank of Canada raised 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 note on Friday, August 30th. Desjardins boosted their price objective on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Finally, National Bankshares increased their price objective on Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the company an "outperform" rating in a report on Friday, August 30th. One equities 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$79.15.

Canadian Imperial Bank of Commerce Stock Performance

The firm has a market cap of C$83.08 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 3.03 and a beta of 1.12. The business has a fifty day moving average of C$82.23 and a two-hundred day moving average of C$72.44.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last released its quarterly earnings data on Thursday, August 29th. The company reported C$1.93 EPS for the quarter, topping the consensus estimate of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. The business had revenue of C$6.60 billion for the quarter, compared to analyst estimates of C$6.31 billion. On average, equities research 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 disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were given a $0.90 dividend. The ex-dividend date was 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 is currently 52.10%.

Insider Activity at Canadian Imperial Bank of Commerce

In related news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the company's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total transaction of C$441,791.70. In related news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the company's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$79.89, for a total value of C$441,791.70. Also, Director Harry Kenneth Culham sold 50,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$81.87, for a total value of C$4,093,500.00. In the last quarter, insiders sold 203,057 shares of company stock valued at $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.