Canadian Imperial Bank of Commerce (TSE:CM) Sets New 12-Month High – Here’s Why

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) reached a new 52-week high during trading on Tuesday . The company traded as high as C$154.35 and last traded at C$154.35, with a volume of 328629 shares. The stock had previously closed at C$153.34.

Analysts Set New Price Targets

Several brokerages recently issued reports on CM. National Bank Financial lifted their price target on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the company a “sector perform” rating in a report on Friday, May 15th. Raymond James Financial lifted their price target on shares of Canadian Imperial Bank of Commerce from C$148.50 to C$157.50 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Barclays increased their price target on Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research note on Monday, March 2nd. Jefferies Financial Group upped their target price on Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a report on Wednesday. Finally, Royal Bank Of Canada lowered their target price on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and a consensus price target of C$152.86.

Canadian Imperial Bank of Commerce Trading Up 0.8%

The company has a 50-day moving average price of C$142.44 and a two-hundred day moving average price of C$132.34. The stock has a market capitalization of C$145.66 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 3.03 and a beta of 1.30.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, February 26th. The company reported C$2.76 earnings per share for the quarter. The firm had revenue of C$8.40 billion during the quarter. Canadian Imperial Bank of Commerce had a return on equity of 14.76% and a net margin of 17.63%. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 28th were paid a $1.07 dividend. The ex-dividend date was Friday, March 27th. This represents a $4.28 annualized dividend and a dividend yield of 2.7%. Canadian Imperial Bank of Commerce’s payout ratio is currently 41.50%.

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.