Canadian Imperial Bank of Commerce (TSE:CM – Get Rating) (NYSE:CM)'s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$57.97 and traded as high as C$61.70. Canadian Imperial Bank of Commerce shares last traded at C$61.46, with a volume of 2,281,529 shares traded.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Canaccord Genuity Group lowered shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating and lowered their price target for the stock from C$75.00 to C$66.50 in a report on Friday, December 2nd. CSFB downgraded shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from C$66.00 to C$63.00 in a research report on Friday, December 9th. National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an "outperform market weight" rating to a "sector perform market weight" rating in a research report on Thursday, December 1st. TD Securities reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$65.00 to C$64.00 and set a "hold" rating for the company in a research report on Friday, December 2nd. Finally, Fundamental Research reaffirmed a "buy" rating and set a C$73.43 price objective on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, December 13th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of C$66.16.

Canadian Imperial Bank of Commerce Stock Performance

The company has a market capitalization of C$55.69 billion and a P/E ratio of 9.20. The stock has a 50 day moving average price of C$57.97 and a 200 day moving average price of C$61.07.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 27th. Investors of record on Wednesday, December 28th were paid a $0.85 dividend. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date was Friday, December 23rd. Canadian Imperial Bank of Commerce's payout ratio is currently 48.95%.

About Canadian Imperial Bank of Commerce

(Get Rating)

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.

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