Canadian Imperial Bank of Commerce (TSE:CM) Director Sells C$4,170,750.00 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Harry Kenneth Culham sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of C$83.42, for a total transaction of C$4,170,750.00.

Harry Kenneth Culham also recently made the following trade(s):

• On Friday, September 13th, Harry Kenneth Culham sold 47,430 shares of Canadian Imperial Bank of Commerce stock. The stock was sold at an average price of C$83.41, for a total value of C$3,956,136.30.
• On Monday, September 9th, Harry Kenneth Culham sold 50,000 shares of Canadian Imperial Bank of Commerce stock. The shares were sold at an average price of C$81.87, for a total value of C$4,093,500.00.

Canadian Imperial Bank of Commerce Stock Down 1.3 %

Shares of CM opened at C$82.78 on Monday. The business has a 50-day simple moving average of C$75.47 and a two-hundred day simple moving average of C$69.69. Canadian Imperial Bank of Commerce has a 52 week low of C$47.44 and a 52 week high of C$84.46. The stock has a market cap of C$78.22 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. The company had revenue of C$6.60 billion during the quarter, compared to analyst estimates of C$6.31 billion. On average, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 7.5778986 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Monday, October 28th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 52.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group set a C$70.00 target price on Canadian Imperial Bank of Commerce and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Desjardins raised their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Canaccord Genuity Group boosted their target price on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research note on Tuesday, August 13th. TD Securities dropped their price target on Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, National Bankshares upped their price objective on Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$79.15.

About Canadian Imperial Bank of Commerce

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.