Canadian Imperial Bank of Commerce (TSE:CM) Shares Pass Above Fifty Day Moving Average - Here's What Happened

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$82.26 and traded as high as C$86.03. Canadian Imperial Bank of Commerce shares last traded at C$85.55, with a volume of 2,095,561 shares trading hands.

Analysts Set New Price Targets

CM has been the subject of several research reports. TD Securities dropped their target price on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and reduced their price target for the company from C$100.00 to C$89.00 in a research report on Monday, April 21st. National Bankshares lowered their price objective on Canadian Imperial Bank of Commerce from C$101.00 to C$95.00 and set an "outperform" rating for the company in a research report on Monday, April 7th. UBS Group cut their target price on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. Finally, Scotiabank lowered their price target on Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$94.50.

Canadian Imperial Bank of Commerce Stock Performance

The firm has a fifty day moving average of C$82.24 and a 200-day moving average of C$87.10. The stock has a market capitalization of C$81.35 billion, a price-to-earnings ratio of 11.48, a P/E/G 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 was paid on Monday, April 28th. Investors of record on Friday, March 28th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 47.55%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, Senior Officer Sandy Sharman sold 1,027 shares of Canadian Imperial Bank of Commerce stock in a transaction on Friday, March 21st. The shares were sold at an average price of C$81.27, for a total value of C$83,464.29. 0.02% of the stock is owned by corporate insiders.

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.