Canadian Imperial Bank of Commerce (TSE:CM) Share Price Passes Above 50-Day Moving Average – Should You Sell?
by Teresa Graham · The Cerbat GemCanadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$121.16 and traded as high as C$127.34. Canadian Imperial Bank of Commerce shares last traded at C$126.61, with a volume of 1,237,931 shares trading hands.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$118.00 and gave the company a “hold” rating in a report on Tuesday, November 25th. TD Securities increased their price target on Canadian Imperial Bank of Commerce from C$124.00 to C$134.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Scotiabank boosted their price objective on Canadian Imperial Bank of Commerce from C$123.00 to C$133.00 and gave the company an “outperform” rating in a report on Friday, December 5th. Raymond James Financial increased their target price on Canadian Imperial Bank of Commerce from C$127.00 to C$132.00 and gave the stock a “market perform” rating in a report on Friday, December 5th. Finally, Royal Bank Of Canada lifted their price target on shares of Canadian Imperial Bank of Commerce from C$114.00 to C$131.00 in a research report on Friday, December 5th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$125.36.
View Our Latest Report on Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce Trading Up 0.0%
The firm has a market capitalization of C$117.69 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 3.03 and a beta of 1.45. The business has a 50-day moving average of C$121.16 and a 200 day moving average of C$109.72.
Canadian Imperial Bank of Commerce (TSE:CM – Get Free Report) (NYSE:CM) last posted its quarterly earnings data on Thursday, December 4th. The company reported C$2.21 EPS for the quarter. Canadian Imperial Bank of Commerce had a net margin of 27.87% and a return on equity of 12.61%. The firm had revenue of C$7.58 billion during the quarter. On average, sell-side analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.
Canadian Imperial Bank of Commerce Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Wednesday, January 28th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.4%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date is Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 45.27%.
About Canadian Imperial Bank of Commerce
CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.