Canadian Imperial Bank of Commerce (TSE:CM) Stock Passes Above 50 Day Moving Average – Time to Sell?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$90.69 and traded as high as C$91.32. Canadian Imperial Bank of Commerce shares last traded at C$90.42, with a volume of 4,485,138 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have weighed in on CM shares. Canaccord Genuity Group increased their target price on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. TD Securities increased their price objective on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. BMO Capital Markets boosted their target price on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. Scotiabank raised their price target on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research note on Friday, December 6th. Finally, Cormark boosted their price objective on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$92.67.

Canadian Imperial Bank of Commerce Stock Up 0.2 %

The stock has a market capitalization of C$85.64 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 3.03 and a beta of 1.12. The business has a 50-day simple moving average of C$90.77 and a two-hundred day simple moving average of C$79.77.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, December 27th. This represents a $3.88 annualized dividend and a yield of 4.28%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 52.10%.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, Senior Officer Susan Rimmer sold 1,000 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of C$93.14, for a total transaction of C$93,140.00. Also, Senior Officer Robert Sedran sold 20,652 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of C$94.97, for a total value of C$1,961,227.51. Insiders have sold a total of 177,012 shares of company stock valued at $16,687,218 over the last three months. Company insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.