Canadian Imperial Bank of Commerce (TSE:CM) Share Price Crosses Above 50-Day Moving Average – What’s Next?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$133.49 and traded as high as C$141.80. Canadian Imperial Bank of Commerce shares last traded at C$141.59, with a volume of 3,428,288 shares.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CM. BMO Capital Markets upped their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the company an “outperform” rating in a report on Friday, February 27th. National Bank Financial upped their target price on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$150.00 and gave the company a “sector perform” rating in a report on Friday, February 27th. Jefferies Financial Group upped their target price on shares of Canadian Imperial Bank of Commerce from C$123.00 to C$127.00 in a report on Wednesday, February 11th. TD Securities upped their target price on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Scotiabank upped their target price on shares of Canadian Imperial Bank of Commerce from C$138.00 to C$153.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and a consensus price target of C$145.35.

Canadian Imperial Bank of Commerce Stock Performance

The stock has a market capitalization of C$130.31 billion, a P/E ratio of 14.76, a PEG ratio of 3.03 and a beta of 1.21. The company’s fifty day simple moving average is C$133.49 and its two-hundred day simple moving average is C$125.15.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, February 26th. The company reported C$2.76 earnings per share for the quarter. The firm had revenue of C$8.40 billion for the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 41.50%.

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.