Canadian Imperial Bank of Commerce (TSE:CM) Stock Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• CIBC shares crossed above their 50-day moving average, trading as high as C$161.23 and last changing hands at C$161.00, slightly above the C$159.85 50-day average.
• Analyst sentiment is mixed but leans neutral: five analysts rate the stock a Buy and seven rate it a Hold. The consensus rating is Hold, with an average price target of C$167.79.
• CIBC reported C$2.73 in quarterly EPS on C$8.37 billion in revenue and declared a quarterly dividend of C$1.07, or C$4.28 annualized, representing a 2.7% yield.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of C$159.85 and traded as high as C$161.23. Canadian Imperial Bank of Commerce shares last traded at C$161.00, with a volume of 2,197,878 shares.

Wall Street Analysts Forecast Growth

CM has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of Canadian Imperial Bank of Commerce from C$144.00 to C$170.00 in a research note on Friday, August 21st. Royal Bank Of Canada raised their price target on shares of Canadian Imperial Bank of Commerce from C$167.00 to C$176.00 and gave the stock an "outperform" rating in a research note on Friday, August 28th. Jefferies Financial Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$154.00 in a research note on Thursday, September 3rd. TD boosted their price objective on Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Finally, Canaccord Genuity Group boosted their price target on shares of Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the company a "hold" rating in a research report on Friday, August 28th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of "Hold" and a consensus target price of C$167.79.

Canadian Imperial Bank of Commerce Price Performance

The company's 50 day simple moving average is C$159.85 and its 200 day simple moving average is C$158.20. The firm has a market cap of C$146.18 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 3.03 and a beta of 1.32.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last posted its quarterly earnings results on Thursday, August 27th. The company reported C$2.73 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%. The company had revenue of C$8.37 billion for the quarter. As a group, analysts forecast that Canadian Imperial Bank of Commerce will post 6.41 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 28th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, September 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is 40.12%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In related news, insider Amy Florence South sold 4,218 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of C$161.41, for a total value of C$680,827.38. Corporate insiders own 0.02% of the company's stock.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.

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