Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells C$817,960.00 in Stock

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

Canadian Imperial Bank of Commerce Stock Performance

CM stock opened at C$83.49 on Monday. The firm has a market cap of C$78.86 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12. The firm has a fifty day moving average price of C$72.58 and a 200 day moving average price of C$68.64. 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. Investors of record on Friday, September 27th will be given a $0.90 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.60 annualized dividend and a yield of 4.31%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.10%.

Wall Street Analysts Forecast Growth

CM has been the topic of several analyst reports. National Bankshares lifted their price target on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Barclays upped 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. 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 company a “sector perform” rating in a report on Friday, August 30th. Canaccord Genuity Group upped their price objective on Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research note on Tuesday, August 13th. Finally, UBS Group set a C$70.00 target price on Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently 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.