Canadian Imperial Bank of Commerce (TSE:CM) Director Victor George Dodig Sells 150,000 Shares

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Victor George Dodig sold 150,000 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of C$94.22, for a total transaction of C$14,132,865.00.

Canadian Imperial Bank of Commerce Stock Down 1.0 %

Shares of TSE CM opened at C$94.40 on Friday. The stock has a market cap of C$89.21 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 3.03 and a beta of 1.12. Canadian Imperial Bank of Commerce has a twelve month low of C$58.26 and a twelve month high of C$95.50. The company’s fifty day moving average is C$87.99 and its 200-day moving average is C$76.98.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 4.11%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 52.10%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays upped their price target on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating in a research note on Friday, August 30th. Royal Bank of Canada upped their target price on shares of Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a research note on Friday, August 30th. Cormark lifted their price target on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th. National Bankshares increased their price objective on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. Finally, Canaccord Genuity Group upped their price target on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$90.00.

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.