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

by · The Markets Daily

Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) shares hit a new 52-week high during trading on Thursday . The stock traded as high as C$126.64 and last traded at C$126.30, with a volume of 6040748 shares traded. The stock had previously closed at C$121.27.

Analyst Ratings Changes

A number of research firms have commented on CM. National Bankshares set a C$110.00 price target on Canadian Imperial Bank of Commerce and gave the company a “sector perform” rating in a research report on Monday, September 22nd. Royal Bank Of Canada upped their target price on Canadian Imperial Bank of Commerce from C$112.00 to C$113.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Jefferies Financial Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the company a “hold” rating in a research report on Tuesday, November 25th. Desjardins boosted their price target on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$113.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Finally, TD Securities upped their price objective on shares of Canadian Imperial Bank of Commerce from C$117.00 to C$124.00 in a research note on Monday, November 10th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average target price of C$113.00.

Read Our Latest Analysis on CM

Canadian Imperial Bank of Commerce Stock Performance

The company has a market capitalization of C$117.40 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 3.03 and a beta of 1.42. The company has a 50 day moving average price of C$116.31 and a 200 day moving average price of C$105.75.

Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (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 business had revenue of C$7.58 billion for the quarter. Research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 28th. Investors of record on Tuesday, October 28th were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Monday, September 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 46.07%.

About Canadian Imperial Bank of Commerce

(Get Free Report)

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.

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