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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$165.25 and last traded at C$165.07, with a volume of 378813 shares. The stock had previously closed at C$163.53.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Scotiabank increased their price objective 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. Canaccord Genuity Group increased their price target on Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. TD dropped their target price on shares of 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. Desjardins raised their target price on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Jefferies Financial Group increased their price target on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a report on Wednesday, May 20th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$153.59.

Canadian Imperial Bank of Commerce Trading Up 2.1%

The stock has a market cap of C$152.41 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 3.03 and a beta of 1.39. The business has a 50-day moving average price of C$156.94 and a 200-day moving average price of C$141.71.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. The business had revenue of C$8.01 billion during the quarter. Equities analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 28th will be given 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 dividend payout ratio is 40.48%.

Insider Buying and Selling

In related news, insider Christopher John Anderson sold 8,490 shares of the company’s stock in a transaction dated 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 sale, the insider owned 6,252 shares of the company’s stock, valued at approximately C$972,186. This represents a 57.59% decrease in their position. Also, insider Amy Florence South sold 1,200 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of C$160.92, for a total transaction of C$193,104.00. Over the last three months, insiders have sold 17,776 shares of company stock worth $2,817,744. 0.02% of the stock is owned by insiders.

About Canadian Imperial Bank of Commerce

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.