Canadian Imperial Bank of Commerce (TSE:CM) Hits New 12-Month High – Should You Buy?

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$165.00 and last traded at C$162.61, with a volume of 256420 shares trading hands. The stock had previously closed at C$163.32.

Analyst Ratings Changes

A number of equities analysts recently commented on CM shares. Canaccord Genuity Group raised their price objective on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$160.00 and gave the stock a “hold” rating in a research note on Friday, June 5th. Desjardins boosted their target price on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Scotiabank lifted their price target on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a report on Tuesday, June 16th. TD dropped their price target on Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating on the stock in a research report on Friday, May 29th. Finally, Royal Bank Of Canada reduced their price objective on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and an average target price of C$152.86.

Canadian Imperial Bank of Commerce Stock Up 0.1%

The company’s 50-day simple moving average is C$155.46 and its 200 day simple moving average is C$140.43. The stock has a market capitalization of C$147.65 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 3.03 and a beta of 1.42.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. The business had revenue of C$8.01 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%. On average, equities analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 28th will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is presently 40.48%.

Insider Buying and Selling

In related news, insider Stephen Alan Scholtz sold 6,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of C$162.70, for a total value of C$976,200.00. Also, insider Christopher John Anderson sold 8,490 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the completion of the transaction, the insider owned 6,252 shares in the company, valued at C$972,186. The trade was a 57.59% decrease in their ownership of the stock. In the last three months, insiders sold 17,776 shares of company stock valued at $2,817,744. Company insiders own 0.02% of the company’s stock.

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.