Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells C$3,087,634.80 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Christina Charlotte Kramer sold 37,022 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$83.40, for a total transaction of C$3,087,634.80.

Canadian Imperial Bank of Commerce Stock Up 0.3 %

CM stock traded up C$0.22 during trading on Monday, hitting C$83.71. 1,375,272 shares of the company’s stock traded hands, compared to its average volume of 3,682,804. The firm has a market capitalization of C$79.07 billion, a P/E ratio of 12.08, a PEG ratio of 3.01 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1 year low of C$47.44 and a 1 year high of C$83.92. The business has a fifty day simple moving average of C$72.58 and a two-hundred day simple moving average of C$68.64.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 annualized dividend and a dividend yield of 4.30%. Canadian Imperial Bank of Commerce’s payout ratio is currently 52.10%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. Canaccord Genuity Group increased their price target on Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a report on Tuesday, August 13th. Keefe, Bruyette & Woods upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Monday, June 3rd. Cormark raised Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and increased their price target for the company from C$75.00 to C$83.00 in a research report on Friday, August 30th. Finally, Barclays raised their target price on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.