Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells 2,275 Shares of Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Sandy Sharman sold 2,275 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$83.04, for a total transaction of C$188,916.00.

Canadian Imperial Bank of Commerce Trading Up 0.3 %

Shares of CM stock opened at C$83.86 on Friday. The firm’s fifty day moving average price is C$75.16 and its two-hundred day moving average price is C$69.59. Canadian Imperial Bank of Commerce has a 1 year low of C$47.44 and a 1 year high of C$84.46. The firm has a market capitalization of C$79.25 billion, a P/E ratio of 12.14, 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 return on equity of 12.37% and a net margin of 29.56%. The business had revenue of C$6.60 billion for the quarter, compared to analyst estimates of C$6.31 billion. As a group, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 7.5778986 EPS for the current fiscal year.

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 Monday, October 28th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 52.10%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CM. Royal Bank of Canada boosted their target price on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the company a “sector perform” rating 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 company a “neutral” rating in a research report on Tuesday, July 2nd. Barclays raised their target price on shares of Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a report on Friday, August 30th. Keefe, Bruyette & Woods upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Monday, June 3rd. Finally, Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and raised their price objective for the stock from C$75.00 to C$83.00 in a 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, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average target price 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.