Canadian Imperial Bank of Commerce (TSE:CM) Reaches New 1-Year High – Still a Buy?

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) hit a new 52-week high during trading on Friday . The company traded as high as C$128.95 and last traded at C$128.94, with a volume of 367624 shares. The stock had previously closed at C$127.99.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CM shares. Royal Bank Of Canada raised their price objective on Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the company an “outperform” rating in a research report 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 research note on Friday, January 9th. BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a report on Wednesday, December 17th. TD Securities upped their price objective on Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Finally, Raymond James Financial upped their price target on shares of Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the stock a “market perform” rating in a research report on Friday, December 5th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$126.09.

Canadian Imperial Bank of Commerce Price Performance

The business has a 50-day moving average of C$124.13 and a 200-day moving average of C$112.71. The company has a market capitalization of C$119.46 billion, a P/E ratio of 15.04, a P/E/G ratio of 3.03 and a beta of 1.31.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 12.61% and a net margin of 27.87%.The firm had revenue of C$7.58 billion during the quarter. Sell-side analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th will be given a dividend of $1.07 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Monday, December 29th. This represents a $4.28 dividend on an annualized basis and a yield of 3.3%. Canadian Imperial Bank of Commerce’s payout ratio is 45.27%.

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.