Canadian Imperial Bank of Commerce (TSE:CM) Hits New 12-Month High Following Analyst Upgrade

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s stock price reached a new 52-week high during trading on Monday after Desjardins raised their price target on the stock from C$135.00 to C$139.00. Desjardins currently has a buy rating on the stock. Canadian Imperial Bank of Commerce traded as high as C$133.03 and last traded at C$132.64, with a volume of 432217 shares changing hands. The stock had previously closed at C$132.10.

CM has been the subject of several other research reports. Royal Bank Of Canada boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Scotiabank lifted their price target on shares of Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a report on Friday, January 9th. Jefferies Financial Group upped their price target on Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the stock a “hold” rating in a research report on Tuesday, November 25th. TD Securities raised their price objective on Canadian Imperial Bank of Commerce from C$134.00 to C$142.00 in a research report on Monday. Finally, Barclays boosted their target price on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a research note on Monday, December 8th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and a consensus price target of C$127.18.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, insider Frank Guse sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total transaction of C$635,800.00. Following the sale, the insider owned 1,359 shares in the company, valued at approximately C$172,810.44. The trade was a 78.63% decrease in their position. Corporate insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

The firm has a market cap of C$123.19 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26. The stock has a 50 day simple moving average of C$127.16 and a two-hundred day simple moving average of C$116.59.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its earnings results on Thursday, December 4th. The company reported C$2.21 EPS for the quarter. The firm had revenue of C$7.58 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 28th were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, December 29th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s dividend payout ratio is 45.27%.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.