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

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$93.94 and traded as high as C$100.18. Canadian Imperial Bank of Commerce shares last traded at C$100.04, with a volume of 2,864,186 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CM shares. Royal Bank Of Canada dropped their price objective on shares of Canadian Imperial Bank of Commerce from C$116.00 to C$112.00 and set an "outperform" rating for the company in a research note on Monday, June 9th. Canaccord Genuity Group set a C$96.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock a "hold" rating in a research report on Tuesday, June 24th. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and decreased their price objective for the stock from C$100.00 to C$89.00 in a report on Monday, April 21st. Barclays increased their price objective on shares of Canadian Imperial Bank of Commerce from C$90.00 to C$94.00 and gave the stock an "underperform" rating in a report on Monday, June 9th. Finally, Scotiabank raised shares of Canadian Imperial Bank of Commerce to a "strong-buy" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of "Moderate Buy" and a consensus price target of C$96.23.

Canadian Imperial Bank of Commerce Price Performance

The stock's 50-day moving average price is C$94.16 and its 200-day moving average price is C$88.63. The company has a market cap of C$92.50 billion, a P/E ratio of 13.06, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Investors 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 yield of 3.92%. The ex-dividend date of this dividend is Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 47.55%.

Insiders Place Their Bets

In other Canadian Imperial Bank of Commerce news, Senior Officer John Hountalas sold 32,018 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of C$93.87, for a total transaction of C$3,005,657.73. Also, Senior Officer Christina Charlotte Kramer sold 43,490 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of C$93.07, for a total value of C$4,047,614.30. Insiders sold a total of 105,837 shares of company stock worth $9,903,590 in the last ninety days. 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.