Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells 10,000 Shares of Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Shawn Beber sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of C$81.80, for a total value of C$817,960.00.

Canadian Imperial Bank of Commerce Trading Up 1.0 %

Shares of Canadian Imperial Bank of Commerce stock traded up C$0.80 during trading hours on Friday, reaching C$83.49. 2,542,869 shares of the company’s stock were exchanged, compared to its average volume of 3,696,122. The stock has a market cap of C$78.86 billion, a P/E ratio of 12.07, a P/E/G ratio of 3.01 and a beta of 1.12. The company has a 50 day moving average of C$72.23 and a two-hundred day moving average of C$68.41. Canadian Imperial Bank of Commerce has a fifty-two week low of C$47.44 and a fifty-two week high of C$83.64.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a yield of 4.31%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 52.10%.

Analysts Set New Price Targets

CM has been the topic of several analyst reports. Cormark raised Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and increased their target price for the company from C$75.00 to C$83.00 in a research note on Friday, August 30th. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and upped their target price for the company from C$74.00 to C$90.00 in a research note on Friday, August 30th. UBS Group set a C$70.00 price objective on Canadian Imperial Bank of Commerce and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Scotiabank boosted their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, Royal Bank of Canada raised their price target on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$79.15.

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.