Canadian Imperial Bank of Commerce (TSE:CM) Stock Crosses Above 50 Day Moving Average – What’s Next?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$160.91 and traded as high as C$167.39. Canadian Imperial Bank of Commerce shares last traded at C$166.04, with a volume of 1,712,455 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CM. Jefferies Financial Group boosted their target price on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research note on Wednesday, May 20th. TD decreased their price target on shares of Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating for the company in a research note on Friday, May 29th. Desjardins lifted their price target on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Canaccord Genuity Group upped their price objective on Canadian Imperial Bank of Commerce from C$160.00 to C$168.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. Finally, National Bank Financial upped their price objective on 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. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and a consensus price target of C$153.59.

Canadian Imperial Bank of Commerce Price Performance

The stock has a market cap of C$151.56 billion, a PE ratio of 16.47, a P/E/G ratio of 3.03 and a beta of 1.39. The firm’s 50 day moving average price is C$160.91 and its two-hundred day moving average price is C$145.95.

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

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 28th were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. Canadian Imperial Bank of Commerce’s payout ratio is presently 40.48%.

Insiders Place Their Bets

In other news, insider Amy Florence South sold 1,086 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, June 25th. The stock was sold at an average price of C$162.15, for a total value of C$176,094.90. Also, insider Christopher John Anderson sold 8,490 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, June 11th. The shares were sold at an average price of C$155.50, for a total value of C$1,320,195.00. Following the completion of the transaction, the insider owned 6,252 shares of the company’s stock, valued at approximately C$972,186. This trade represents a 57.59% decrease in their ownership of the stock. Insiders have sold a total of 17,776 shares of company stock worth $2,817,744 over the last 90 days. Corporate 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.