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

Shares of Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$160.91 and traded as high as C$167.39. Canadian Imperial Bank of Commerce shares last traded at C$166.04, with a volume of 1,712,455 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CM shares. National Bank Financial increased their price objective on shares of Canadian Imperial Bank of Commerce from C$150.00 to C$152.00 and gave the stock a “sector perform” rating in a research note on Friday, May 15th. Scotiabank boosted their target price on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a research report on Tuesday, June 16th. Raymond James Financial dropped their target price on shares of 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 report on Friday, May 29th. TD cut their price target on shares of Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating for the company in a report on Friday, May 29th. Finally, Jefferies Financial Group lifted their price objective on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$143.00 in a research note on Wednesday, May 20th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$153.59.

Canadian Imperial Bank of Commerce Stock Performance

The company has a market cap of C$151.56 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 3.03 and a beta of 1.39. The business has a fifty day moving average price of C$160.91 and a 200 day moving average price of C$145.95.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings data on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The business had revenue of C$8.01 billion for the quarter. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 28th were issued a $1.07 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.6%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 40.48%.

Insider Activity

In related news, insider Christopher John Anderson sold 8,490 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of C$155.50, for a total transaction of C$1,320,195.00. Following the sale, the insider directly owned 6,252 shares of the company’s stock, valued at approximately C$972,186. The trade was a 57.59% decrease in their position. Also, insider Amy Florence South sold 1,086 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of C$162.15, for a total transaction of C$176,094.90. In the last three months, insiders have sold 17,776 shares of company stock worth $2,817,744. Corporate insiders own 0.02% of the company’s stock.

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.