Canadian Imperial Bank of Commerce (TSE:CM) Reaches New 52-Week High – Still a Buy?
by Amy Steele · The Cerbat GemShares of Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$150.97 and last traded at C$148.59, with a volume of 691999 shares trading hands. The stock had previously closed at C$150.39.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on CM shares. Canaccord Genuity Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the stock a “hold” rating in a report on Friday, February 27th. Scotiabank raised their price target on shares of Canadian Imperial Bank of Commerce from C$138.00 to C$153.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. BMO Capital Markets raised their price target on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Raymond James Financial raised their price target on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$148.50 and gave the stock a “market perform” rating in a report on Friday, February 27th. Finally, Barclays raised their price target on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a report on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$145.35.
Read Our Latest Research Report on Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce Stock Performance
The firm has a market cap of C$136.66 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 3.03 and a beta of 1.21. The stock’s 50 day simple moving average is C$136.51 and its 200 day simple moving average is C$127.44.
Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last announced its quarterly earnings results on Thursday, February 26th. The company reported C$2.76 EPS for the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. The business had revenue of C$8.40 billion during the quarter. As a group, analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.
Canadian Imperial Bank of Commerce Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is 41.50%.
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.