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) shares 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 changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Desjardins upped their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a report on Friday, August 30th. UBS Group set a C$70.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Barclays increased 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. Canaccord Genuity Group increased their price target on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research report on Tuesday, August 13th. Finally, National Bankshares increased their price target on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus target price of C$79.15.

Canadian Imperial Bank of Commerce Price Performance

The company has a market capitalization of C$77.43 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12. The company’s 50 day simple moving average is C$77.39 and its 200 day simple moving average is C$70.52.

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

Canadian Imperial Bank of Commerce Announces Dividend

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

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total transaction of C$441,791.70. In other news, Senior Officer Hratch Dikran Panossian sold 5,530 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total transaction of C$441,791.70. Also, Senior Officer Shawn Beber sold 10,000 shares of the firm’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 203,057 shares of company stock worth $16,823,249 over the last three months. 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.