Canadian Imperial Bank of Commerce (TSE:CM) Share Price Passes Above 50 Day Moving Average of $65.23

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$65.23 and traded as high as C$66.57. Canadian Imperial Bank of Commerce shares last traded at C$66.15, with a volume of 2,019,474 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CM. Royal Bank of Canada lifted their target price on shares of Canadian Imperial Bank of Commerce from C$63.00 to C$68.00 and gave the company a "sector perform" rating in a research report on Friday, March 1st. Desjardins boosted their price target on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$66.00 and gave the stock a "hold" rating in a research report on Friday, March 1st. Cormark boosted their price target on shares of Canadian Imperial Bank of Commerce from C$64.00 to C$68.00 in a research report on Friday, March 1st. National Bankshares upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from C$62.00 to C$71.00 in a research report on Wednesday, December 20th. Finally, Scotiabank boosted their price target on shares of Canadian Imperial Bank of Commerce from C$67.00 to C$69.00 and gave the stock an "outperform" rating in a research report on Friday, March 1st. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of C$65.81.

Canadian Imperial Bank of Commerce Stock Performance

The firm's 50 day moving average is C$65.23 and its two-hundred day moving average is C$59.56. The stock has a market capitalization of C$62.00 billion, a PE ratio of 10.11, a P/E/G ratio of 3.01 and a beta of 1.10.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last posted its quarterly earnings results on Thursday, February 29th. The company reported C$1.81 EPS for the quarter, topping the consensus estimate of C$1.69 by C$0.12. Canadian Imperial Bank of Commerce had a net margin of 29.50% and a return on equity of 12.14%. The company had revenue of C$6.22 billion during the quarter, compared to analysts' expectations of C$6.07 billion. On average, analysts anticipate that Canadian Imperial Bank of Commerce will post 6.8850458 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 5.44%. The ex-dividend date is Wednesday, March 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 55.05%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.