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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) passed 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 changing hands.

Analyst Ratings Changes

CM has been the subject of several recent research reports. Royal Bank Of Canada upped their price target on shares of 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. National Bankshares lifted their target price on Canadian Imperial Bank of Commerce from C$121.00 to C$128.00 and gave the stock a “sector perform” rating in a report on Friday, December 5th. BMO Capital Markets upped their price target on Canadian Imperial Bank of Commerce from C$130.00 to C$135.00 in a research report on Wednesday, December 17th. Desjardins raised their price objective on 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, Barclays upped their target price on Canadian Imperial Bank of Commerce from C$119.00 to C$126.00 in a report on Monday, December 8th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$126.09.

Canadian Imperial Bank of Commerce Price Performance

The firm has a fifty day simple moving average of C$124.89 and a 200-day simple moving average of C$113.94. The firm has a market cap of C$117.72 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 3.03 and a beta of 1.31.

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

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Wednesday, January 28th will be issued a dividend of $1.07 per share. The ex-dividend date is Monday, December 29th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 annualized dividend and a yield of 3.4%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.27%.

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.