Canadian Imperial Bank of Commerce (TSE:CM) Sets New 52-Week High – Time to Buy?

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) reached a new 52-week high during trading on Monday . The company traded as high as C$162.12 and last traded at C$161.86, with a volume of 81746 shares changing hands. The stock had previously closed at C$158.27.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CM. Raymond James Financial increased their price target on shares of Canadian Imperial Bank of Commerce from C$148.50 to C$157.50 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. National Bank Financial upped their price objective 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 research note on Friday, May 15th. Desjardins upped their price objective 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. Barclays upped their price objective on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research note on Monday, March 2nd. Finally, TD Securities upped their price objective on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$152.86.

Canadian Imperial Bank of Commerce Stock Down 0.6%

The stock has a market cap of C$147.14 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 3.03 and a beta of 1.30. The firm’s 50-day moving average is C$144.56 and its two-hundred day moving average is C$133.53.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued 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 for the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. Analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 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.