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

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM passed above its fifty day moving average during trading on Monday . The stock has a fifty 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 a number of research reports. UBS Group cut their target price on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. Royal Bank of Canada set a C$108.00 price objective on Canadian Imperial Bank of Commerce and gave the stock an "outperform" rating in a research report on Monday, March 17th. Scotiabank lowered their target price on Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. National Bankshares dropped their price target 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. Finally, TD Securities reduced their price objective on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$94.50.

Canadian Imperial Bank of Commerce Price Performance

The company's 50-day moving average is C$82.29 and its 200-day moving average is C$87.21. The firm has a market capitalization of C$82.33 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were paid a dividend of $0.97 per share. The ex-dividend date was Friday, March 28th. This represents a $3.88 annualized dividend and a dividend yield of 4.41%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 47.55%.

Insider Buying and Selling

In other news, Senior Officer Sandy Sharman sold 1,027 shares of the company's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of C$81.27, for a total value of C$83,464.29. Corporate 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.