Canadian Imperial Bank of Commerce (TSE:CM) Hits New 1-Year High – Should You Buy?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$170.18 and last traded at C$169.54, with a volume of 717659 shares. The stock had previously closed at C$169.48.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Raymond James Financial reduced their price target on shares of Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a “market perform” rating on the stock in a research report on Friday, May 29th. National Bank Financial increased their price objective on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a research report on Friday, May 15th. Desjardins raised their target price 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. TD reduced 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 report on Friday, May 29th. Finally, Canaccord Genuity Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the stock a “hold” rating in a research report on Tuesday, July 7th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$153.59.

Canadian Imperial Bank of Commerce Trading Up 0.2%

The stock has a market capitalization of C$155.12 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 3.03 and a beta of 1.39. The firm has a 50-day moving average of C$158.65 and a 200 day moving average of C$143.16.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Thursday, May 28th. The company reported C$2.54 earnings per share (EPS) for the quarter. The company had revenue of C$8.01 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. As a group, research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, July 28th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 40.48%.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, insider Stephen Alan Scholtz sold 6,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of C$162.70, for a total value of C$976,200.00. Also, insider Amy Florence South sold 1,086 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of C$162.15, for a total value of C$176,094.90. Insiders have sold 17,776 shares of company stock valued at $2,817,744 in the last quarter. Company insiders own 0.02% of the company’s stock.

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.