Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$77.39 and traded as high as C$82.55. Canadian Imperial Bank of Commerce shares last traded at C$81.94, with a volume of 3,648,907 shares.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. National Bankshares upped their target price on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the company an “outperform” rating in a report on Friday, August 30th. TD Securities reduced their target price on shares of Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating for the company in a report on Friday, August 30th. Barclays upped their price target on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada upped their target price on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$79.15.

Canadian Imperial Bank of Commerce Stock Performance

The business’s fifty day moving average is C$77.39 and its two-hundred day moving average is C$70.52. The company has a market cap of C$77.43 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data on Thursday, August 29th. The company reported C$1.93 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. The company had revenue of C$6.60 billion during the quarter, compared to analyst estimates of C$6.31 billion. Analysts expect that Canadian Imperial Bank of Commerce will post 7.5827138 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be issued a $0.90 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.60 annualized dividend and a dividend yield of 4.39%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.10%.

Insider Transactions at Canadian Imperial Bank of Commerce

In other news, Director Harry Kenneth Culham sold 50,000 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of C$81.87, for a total value of C$4,093,500.00. In other Canadian Imperial Bank of Commerce news, Director Harry Kenneth Culham sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of C$81.87, for a total transaction of C$4,093,500.00. Also, Senior Officer Shawn Beber sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of C$81.80, for a total transaction of C$817,960.00. Insiders have sold a total of 203,057 shares of company stock valued at $16,823,249 in the last 90 days. Insiders own 0.02% of the company’s stock.

About Canadian Imperial Bank of Commerce

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.