Canadian Imperial Bank of Commerce (TSE:CM) Insider Sells C$680,827.38 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) insider Amy Florence South sold 4,218 shares of Canadian Imperial Bank of Commerce stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of C$161.41, for a total value of C$680,827.38.

Canadian Imperial Bank of Commerce Trading Up 2.1%

TSE:CM traded up C$3.26 during trading hours on Friday, hitting C$160.72. 1,435,317 shares of the stock were exchanged, compared to its average volume of 2,537,703. Canadian Imperial Bank of Commerce has a 52-week low of C$109.74 and a 52-week high of C$172.87. The firm’s fifty day moving average price is C$163.09 and its 200 day moving average price is C$154.65. The company has a market cap of C$145.92 billion, a P/E ratio of 15.42, a P/E/G ratio of 3.03 and a beta of 1.26.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its earnings results on Thursday, August 27th. The company reported C$2.73 earnings per share for the quarter. The business had revenue of C$8.37 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.44% and a net margin of 16.13%. Equities analysts expect that Canadian Imperial Bank of Commerce will post 6.4127341 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 28th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, September 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 40.12%.

Analyst Upgrades and Downgrades

CM has been the topic of several recent research reports. Keefe, Bruyette & Woods set a C$186.00 target price on shares of Canadian Imperial Bank of Commerce and gave the stock a “hold” rating in a research note on Friday, August 21st. Barclays raised their price target on shares of Canadian Imperial Bank of Commerce from C$144.00 to C$170.00 in a research note on Friday, August 21st. Jefferies Financial Group boosted their price target on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$154.00 in a research report on Thursday, September 3rd. Scotiabank upped their price objective on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the company a “sector perform” rating in a research note on Tuesday, June 16th. Finally, TD increased their price objective on shares of Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus price target of C$167.79.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.