Canadian Imperial Bank of Commerce (TSE:CM) Share Price Crosses Above Fifty Day Moving Average - Time to Sell?

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$92.43 and traded as high as C$97.93. Canadian Imperial Bank of Commerce shares last traded at C$97.75, with a volume of 2,407,294 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on CM shares. National Bankshares set a C$95.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Scotiabank raised shares of Canadian Imperial Bank of Commerce to a "strong-buy" rating in a research note on Thursday, May 15th. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and dropped their target price for the company from C$100.00 to C$89.00 in a research report on Monday, April 21st. Canaccord Genuity Group set a C$96.00 price target on Canadian Imperial Bank of Commerce and gave the stock a "hold" rating in a report on Tuesday, June 24th. Finally, National Bank Financial downgraded Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of "Moderate Buy" and an average target price of C$96.23.

Canadian Imperial Bank of Commerce Price Performance

The business has a fifty day simple moving average of C$92.43 and a 200 day simple moving average of C$88.36. The firm has a market cap of C$91.45 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Monday, July 28th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 47.55%.

Insider Transactions at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, Senior Officer Shawn Beber sold 3,151 shares of the firm's stock in a transaction on Thursday, June 19th. The stock was sold at an average price of C$94.61, for a total value of C$298,126.51. Also, Senior Officer Hratch Dikran Panossian sold 9,006 shares of Canadian Imperial Bank of Commerce stock in a transaction on Monday, June 23rd. The stock was sold at an average price of C$94.96, for a total transaction of C$855,240.38. Insiders have sold a total of 105,837 shares of company stock valued at $9,903,590 over the last ninety days. Company insiders own 0.02% of the company's stock.

Canadian Imperial Bank of Commerce Company Profile

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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