Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Passes Above 50-Day Moving Average – Should You Sell?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$150.51 and traded as high as C$160.83. Canadian Imperial Bank of Commerce shares last traded at C$159.15, with a volume of 1,082,230 shares trading hands.

Analyst Upgrades and Downgrades

CM has been the subject of a number of recent research reports. Raymond James Financial reduced their price objective on Canadian Imperial Bank of Commerce from C$157.50 to C$155.50 and set a “market perform” rating for the company in a research note on Friday, May 29th. Royal Bank Of Canada reduced their price objective on Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. TD reduced their price objective on Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating for the company in a research note on Friday, May 29th. Scotiabank lowered Canadian Imperial Bank of Commerce from a “sector outperform” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Canaccord Genuity Group lifted their price objective on Canadian Imperial Bank of Commerce from C$158.00 to C$160.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average price target of C$153.05.

Canadian Imperial Bank of Commerce Stock Performance

The firm has a market cap of C$145.27 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 3.03 and a beta of 1.42. The stock has a 50 day simple moving average of C$150.51 and a two-hundred day simple moving average of C$136.83.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its earnings results on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The firm had revenue of C$8.01 billion for the quarter. Equities research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 28th were given a dividend of $1.07 per share. The ex-dividend date was Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 40.48%.

Insider Activity at Canadian Imperial Bank of Commerce

In other news, insider Christopher John Anderson sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of C$152.15, for a total transaction of C$152,150.00. Following the sale, the insider directly owned 6,252 shares in the company, valued at C$951,241.80. This trade represents a 13.79% decrease in their position. 0.02% of the stock is owned by company insiders.

Canadian Imperial Bank of Commerce Company Profile

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.