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

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$90.69 and traded as high as C$91.32. Canadian Imperial Bank of Commerce shares last traded at C$90.42, with a volume of 4,485,138 shares.

Wall Street Analysts Forecast Growth

CM has been the topic of several research analyst reports. National Bankshares boosted their target price on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. Scotiabank boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a report on Friday, December 6th. Canaccord Genuity Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. Cormark boosted their price target on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th. Finally, BMO Capital Markets raised their price objective on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$92.67.

Canadian Imperial Bank of Commerce Stock Performance

The stock has a market cap of C$85.44 billion, a PE ratio of 13.09, a PEG ratio of 3.03 and a beta of 1.12. The business has a 50-day moving average of C$90.69 and a 200 day moving average of C$79.60.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.10%.

Insiders Place Their Bets

In related news, Senior Officer Susan Rimmer sold 1,000 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, December 19th. The shares were sold at an average price of C$93.14, for a total transaction of C$93,140.00. Also, Senior Officer Frank Guse sold 5,360 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$93.28, for a total transaction of C$499,985.62. Following the completion of the transaction, the insider now owns 440 shares in the company, valued at C$41,043.60. This represents a 92.41 % decrease in their position. In the last ninety days, insiders have sold 177,012 shares of company stock valued at $16,687,218. 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.