Canadian Imperial Bank of Commerce (TSE:CM) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) shares 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.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CM shares. National Bankshares boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. 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. Scotiabank raised their price objective on Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research note on Friday, December 6th. UBS Group boosted their target price on Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research report on Monday, December 16th. Finally, TD Securities raised their price target on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$92.67.

Canadian Imperial Bank of Commerce Trading Up 0.2 %

The business’s 50-day moving average is C$90.77 and its two-hundred day moving average is C$79.77. The stock has a market capitalization of C$85.64 billion, a PE ratio of 13.12, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be paid a $0.97 dividend. The ex-dividend date is Friday, December 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. This represents a $3.88 annualized dividend and a dividend yield of 4.28%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 52.10%.

Insiders Place Their Bets

In other Canadian Imperial Bank of Commerce news, Senior Officer Robert Sedran sold 20,652 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of C$94.97, for a total transaction of C$1,961,227.51. Also, Director Victor George Dodig sold 150,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of C$94.22, for a total transaction of C$14,132,865.00. Insiders have sold 177,012 shares of company stock worth $16,687,218 in the last quarter. 0.02% of the stock is owned by corporate 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.