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

Shares of Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM passed above its fifty day moving average during trading on Thursday . The stock has a fifty 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 trading hands.

Analyst Ratings Changes

CM has been the topic of a number of research analyst reports. TD Securities raised their target price on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. Canaccord Genuity Group raised their price objective on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research note on Friday, December 6th. Cormark boosted their target price on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th. UBS Group increased their target price on shares of Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a report on Monday, December 16th. Finally, National Bankshares upped their price objective 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of "Moderate Buy" and an average target price of C$92.67.

Canadian Imperial Bank of Commerce Stock Performance

The stock has a market cap of C$85.64 billion, a P/E ratio of 13.12, a P/E/G ratio of 3.03 and a beta of 1.12. The business has a 50 day simple moving average of C$90.69 and a 200-day simple moving average of C$79.60.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date is Friday, December 27th. This is a boost 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 other Canadian Imperial Bank of Commerce news, Senior Officer Susan Rimmer sold 1,000 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Thursday, December 19th. The stock was 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 that occurred on Monday, December 9th. The shares were sold at an average price of C$93.28, for a total transaction of C$499,985.62. Following the transaction, the insider now directly owns 440 shares of the company's stock, valued at approximately C$41,043.60. This represents a 92.41 % decrease in their position. Insiders sold 177,012 shares of company stock worth $16,687,218 over the last quarter. 0.02% of the stock is currently owned by company insiders.

Canadian Imperial Bank of Commerce Company Profile

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.