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) shares 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 changing hands.

Wall Street Analyst Weigh In

CM has been the subject of several analyst reports. Desjardins increased their price objective on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. TD Securities increased their price objective on 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. Canaccord Genuity Group increased 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 report on Friday, June 5th. Barclays increased their price objective on Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a report on Monday, March 2nd. Finally, Royal Bank Of Canada decreased 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 report on Wednesday, March 25th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average target price of C$153.05.

Canadian Imperial Bank of Commerce Stock Performance

The company 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 moving average of C$150.51 and a 200-day moving average of C$136.83.

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

Canadian Imperial Bank of Commerce Dividend Announcement

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

Insider Transactions at Canadian Imperial Bank of Commerce

In related news, insider Christopher John Anderson sold 1,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of C$152.15, for a total value of C$152,150.00. Following the completion of the transaction, the insider 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.

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.