Canadian Imperial Bank of Commerce (TSE:CM) Shares Pass Below 50-Day Moving Average of $101.94

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM)’s stock price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $101.94 and traded as low as $108.26. Canadian Imperial Bank of Commerce shares last traded at $109.61, with a volume of 706,715 shares.

CM has been the topic of a number of research analyst reports. Royal Bank of Canada cut their price target on shares of Canadian Imperial Bank of Commerce from C$128.00 to C$124.00 and set a “sector perform” rating on the stock in a report on Friday, August 23rd. National Bank Financial cut their price target on shares of Canadian Imperial Bank of Commerce from C$115.00 to C$110.00 and set a “sector perform” rating on the stock in a report on Friday, August 23rd. CSFB cut their price target on shares of Canadian Imperial Bank of Commerce from C$106.00 to C$105.00 in a report on Friday, September 6th. Citigroup cut their price target on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$115.00 in a report on Monday, September 9th. Finally, Eight Capital cut their price target on shares of Canadian Imperial Bank of Commerce from C$119.00 to C$107.00 in a report on Wednesday, August 14th. Seven analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of C$115.00.

The stock’s fifty day moving average is C$102.25 and its two-hundred day moving average is C$106.29. The company has a market capitalization of $48.47 billion and a PE ratio of 9.58.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be issued a $1.44 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.40. This represents a $5.76 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date is Thursday, September 26th. Canadian Imperial Bank of Commerce’s payout ratio is 48.38%.

Canadian Imperial Bank of Commerce Company Profile (TSE:CM)

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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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