Canadian Imperial Bank of Commerce (TSE:CM) Sets New 1-Year High – What’s Next?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s share price hit a new 52-week high on Wednesday . The stock traded as high as C$138.18 and last traded at C$137.30, with a volume of 570756 shares. The stock had previously closed at C$134.53.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CM. Royal Bank Of Canada raised their target price 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 report on Monday, January 5th. Canaccord Genuity Group upped their target price on Canadian Imperial Bank of Commerce from C$129.00 to C$136.00 and gave the company a “hold” rating in a research report on Thursday, February 12th. Scotiabank raised their price target on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research report on Friday, January 9th. Jefferies Financial Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a research report on Wednesday, February 11th. Finally, Desjardins raised their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a report on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$135.40.

Canadian Imperial Bank of Commerce Stock Performance

The company has a market cap of C$127.73 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 3.03 and a beta of 1.26. The company’s 50 day moving average price is C$128.46 and its 200-day moving average price is C$118.92.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, December 4th. The company reported C$2.21 earnings per share for the quarter. The business had revenue of C$7.58 billion during 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 expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th were given a dividend of $1.07 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 45.27%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, insider Frank Guse sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of C$127.16, for a total value of C$635,800.00. Following the sale, the insider owned 1,359 shares of the company’s stock, valued at C$172,810.44. The trade was a 78.63% decrease in their ownership of the stock. 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.