Canadian Imperial Bank of Commerce (TSE:CM) Stock Price Passes Above Fifty Day Moving Average – Time to Sell?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$82.26 and traded as high as C$86.03. Canadian Imperial Bank of Commerce shares last traded at C$85.55, with a volume of 2,095,561 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. TD Securities reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$100.00 to C$89.00 in a report on Monday, April 21st. UBS Group reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. National Bankshares reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$101.00 to C$95.00 and set an “outperform” rating on the stock in a report on Monday, April 7th. Finally, Scotiabank reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$94.50.

Canadian Imperial Bank of Commerce Price Performance

The company has a market cap of C$80.04 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 3.03 and a beta of 1.12. The business’s 50-day simple moving average is C$82.26 and its 200-day simple moving average is C$87.10.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 47.55%.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, Senior Officer Sandy Sharman sold 1,027 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of C$81.27, for a total value of C$83,464.29. Corporate insiders own 0.02% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.