Canadian Imperial Bank of Commerce (TSE:CM) Share Price Passes Above 50-Day Moving Average - Time to Sell?

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$91.37 and traded as high as C$91.66. Canadian Imperial Bank of Commerce shares last traded at C$91.46, with a volume of 1,894,709 shares.

Analysts Set New Price Targets

CM has been the subject of several recent analyst reports. Scotiabank upped their price target on Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research note on Friday, December 6th. Cormark increased their price target on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. BMO Capital Markets boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research note on Monday, November 18th. Canaccord Genuity Group raised their target price on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research note on Friday, December 6th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of "Moderate Buy" and a consensus target price of C$95.08.

Canadian Imperial Bank of Commerce Stock Performance

The business has a 50 day simple moving average of C$91.56 and a two-hundred day simple moving average of C$83.06. The firm has a market capitalization of C$86.57 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were paid a dividend of $0.97 per share. The ex-dividend date was Friday, December 27th. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.90. This represents a $3.88 dividend on an annualized basis and a yield of 4.24%. Canadian Imperial Bank of Commerce's payout ratio is currently 52.10%.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other news, Director Victor George Dodig sold 150,000 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of C$94.22, for a total value of C$14,132,865.00. Also, Senior Officer Robert Sedran sold 20,652 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, December 12th. The stock was sold at an average price of C$94.97, for a total value of C$1,961,227.51. Over the last ninety days, insiders 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.