Canadian Imperial Bank of Commerce (TSE:CM) Share Price Breaks Below 50 Day Moving Average – Should You Sell?

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s share price crossed below its 50-day moving average during trading on Monday. The stock has a 50-day moving average of C$162.14 and traded as low as C$156.70. Canadian Imperial Bank of Commerce shares last traded at C$157.25, with a volume of 2,845,198 shares.

Analyst Upgrades and Downgrades

CM has been the topic of a number of analyst reports. Scotiabank increased their price target on Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 16th. National Bank Financial set a C$180.00 price target on Canadian Imperial Bank of Commerce and gave the stock a “sector perform” rating in a research report on Monday, August 24th. Jefferies Financial Group upped their price objective on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$154.00 in a research report on Thursday, September 3rd. Keefe, Bruyette & Woods set a C$186.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the stock a “hold” rating in a research note on Friday, August 21st. Finally, Canaccord Genuity Group boosted their target price on shares of Canadian Imperial Bank of Commerce from C$168.00 to C$169.00 and gave the company a “hold” rating in a research report on Friday, August 28th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average target price of C$167.79.

Canadian Imperial Bank of Commerce Trading Down 2.6%

The company has a market capitalization of C$140.34 billion, a P/E ratio of 14.83, a PEG ratio of 3.03 and a beta of 1.32. The stock has a 50 day moving average price of C$161.75 and a 200 day moving average price of C$156.18.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings data on Thursday, August 27th. The company reported C$2.73 earnings per share for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%.The business had revenue of C$8.37 billion for the quarter. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 28th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, September 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 40.12%.

Insider Buying and Selling

In other Canadian Imperial Bank of Commerce news, insider Amy Florence South sold 4,218 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of C$161.41, for a total transaction of C$680,827.38. 0.02% of the stock is currently owned by corporate insiders.

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.