Susan Rimmer Sells 1,000 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Susan Rimmer sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$93.14, for a total transaction of C$93,140.00.

Canadian Imperial Bank of Commerce Stock Up 0.8 %

Shares of Canadian Imperial Bank of Commerce stock opened at C$92.50 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of C$59.53 and a 12-month high of C$95.50. The stock has a 50 day moving average price of C$89.30 and a two-hundred day moving average price of C$78.08. The stock has a market capitalization of C$87.41 billion, a P/E ratio of 13.39, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be issued a dividend of $0.97 per share. 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 4.19%. The ex-dividend date is Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.10%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. BMO Capital Markets boosted their price target on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a report on Monday, November 18th. TD Securities boosted their target price on Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a research note on Friday, November 15th. Cormark raised 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. Desjardins boosted their price target on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Barclays raised their price objective on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$92.67.

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.