Canadian Imperial Bank of Commerce (TSE:CM) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$133.49 and traded as high as C$141.80. Canadian Imperial Bank of Commerce shares last traded at C$141.59, with a volume of 3,428,288 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Desjardins lifted their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$139.00 and gave the company a “buy” rating in a research note on Monday, February 9th. National Bank Financial boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$131.00 to C$150.00 and gave the stock a “sector perform” rating in a research report on Friday, February 27th. TD Securities boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Barclays boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research report on Monday, March 2nd. Finally, Canaccord Genuity Group boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$136.00 to C$145.00 and gave the stock a “hold” rating in a research report on Friday, February 27th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$145.35.

Canadian Imperial Bank of Commerce Stock Performance

The firm’s 50-day moving average is C$133.82 and its two-hundred day moving average is C$125.36. The stock has a market cap of C$131.30 billion, a P/E ratio of 14.88, a PEG ratio of 3.03 and a beta of 1.21.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, February 26th. The company reported C$2.76 earnings per share for the quarter. The firm had revenue of C$8.40 billion during the quarter. Canadian Imperial Bank of Commerce had a net margin of 17.63% and a return on equity of 14.76%. As a group, research analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Tuesday, April 28th will be given a dividend of $1.07 per share. The ex-dividend date is Friday, March 27th. This represents a $4.28 annualized dividend and a dividend yield of 3.0%. Canadian Imperial Bank of Commerce’s payout ratio is presently 41.50%.

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.