Canadian Imperial Bank of Commerce (TSE:CM) Share Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• The Canadian Imperial Bank of Commerce's stock price recently crossed above its 50-day moving average, trading at C$108.21 compared to the moving average of C$101.51.
• Analysts have varied ratings on the stock with four "Buy," four "Hold," and one "Sell," and the consensus target price has been set at C$108.25.
• The bank has declared a quarterly dividend of $0.97, yielding an annualized dividend of 3.6% and a payout ratio of 46.07%.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$101.51 and traded as high as C$108.68. Canadian Imperial Bank of Commerce shares last traded at C$108.21, with a volume of 2,743,647 shares trading hands.

Wall Street Analyst Weigh In

CM has been the topic of a number of recent research reports. Barclays increased their price target on shares of Canadian Imperial Bank of Commerce from C$96.00 to C$106.00 and gave the company an "underweight" rating in a research report on Friday, August 29th. National Bank Financial cut shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Thursday, May 29th. TD Securities raised their target price on shares of Canadian Imperial Bank of Commerce from C$110.00 to C$117.00 and gave the stock a "buy" rating in a report on Friday, August 29th. BMO Capital Markets raised their target price on shares of Canadian Imperial Bank of Commerce from C$107.00 to C$112.00 in a report on Friday, August 29th. Finally, Scotiabank raised their target price on shares of Canadian Imperial Bank of Commerce from C$101.00 to C$116.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of "Hold" and a consensus target price of C$108.25.

Canadian Imperial Bank of Commerce Price Performance

The business has a 50 day moving average of C$101.51 and a 200 day moving average of C$92.16. The company has a market cap of C$100.58 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 3.03 and a beta of 1.33.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 28th. Stockholders of record on Monday, July 28th were given a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, June 27th. Canadian Imperial Bank of Commerce's payout ratio is currently 46.07%.

Insider Activity

In other Canadian Imperial Bank of Commerce news, Senior Officer Shawn Beber sold 9,065 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of C$92.49, for a total value of C$838,382.87. Also, Senior Officer Hratch Dikran Panossian sold 9,006 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of C$94.96, for a total transaction of C$855,240.38. In the last ninety days, insiders sold 21,222 shares of company stock valued at $1,991,750. 0.02% of the stock is owned by insiders.

About Canadian Imperial Bank of Commerce

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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