Canadian Imperial Bank of Commerce (TSE:CM) Shares Cross Above 50 Day Moving Average – What’s Next?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$124.89 and traded as high as C$127.42. Canadian Imperial Bank of Commerce shares last traded at C$127.04, with a volume of 2,626,304 shares traded.

Wall Street Analysts Forecast Growth

CM has been the subject of several research analyst reports. Scotiabank raised their price objective on Canadian Imperial Bank of Commerce from C$133.00 to C$138.00 in a research note on Friday, January 9th. National Bankshares upped their target price on Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the company a “sector perform” rating in a report on Friday, December 5th. Royal Bank Of Canada raised their price target on Canadian Imperial Bank of Commerce from C$131.00 to C$134.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Desjardins boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$132.00 to C$135.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Finally, Raymond James Financial increased their price objective on shares of Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the company a “market perform” rating in a research note on Friday, December 5th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average target price of C$126.09.

Canadian Imperial Bank of Commerce Trading Down 0.3%

The firm’s 50 day moving average is C$124.89 and its two-hundred day moving average is C$114.05. The stock has a market cap of C$117.72 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 3.03 and a beta of 1.31.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, December 4th. The company reported C$2.21 earnings per share (EPS) for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. The company had revenue of C$7.58 billion for the quarter. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Wednesday, January 28th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.4%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date is Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 45.27%.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, insider Frank Guse sold 5,000 shares of the business’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of C$127.16, for a total value of C$635,800.00. Following the completion of the transaction, the insider directly owned 1,359 shares in the company, valued at approximately C$172,810.44. The trade was a 78.63% decrease in their position. Insiders own 0.02% of the company’s stock.

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.