Canadian Imperial Bank of Commerce (TSE:CM) Stock Crosses Below 200 Day Moving Average - Time to Sell?

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$87.02 and traded as low as C$80.85. Canadian Imperial Bank of Commerce shares last traded at C$81.48, with a volume of 3,750,747 shares trading hands.

Analyst Upgrades and Downgrades

CM has been the subject of a number of recent research reports. Royal Bank of Canada set a C$108.00 price target on Canadian Imperial Bank of Commerce and gave the stock an "outperform" rating in a research note on Monday, March 17th. UBS Group dropped their price target on shares of Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research note on Friday, February 14th. 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 for the company in a research note on Thursday, February 20th. TD Securities lowered their target price 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 research report on Friday, February 28th. Finally, National Bankshares reduced their price target on Canadian Imperial Bank of Commerce from C$101.00 to C$95.00 and set an "outperform" rating for the company in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of "Moderate Buy" and a consensus target price of C$93.58.

Canadian Imperial Bank of Commerce Price Performance

The business has a 50 day simple moving average of C$82.81 and a 200 day simple moving average of C$86.97. The company has a market cap of C$76.34 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 47.55%.

Insiders Place Their Bets

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 transaction of C$83,464.29. Company insiders own 0.02% of the company's stock.

About Canadian Imperial Bank of Commerce

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.