Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Robert Sedran Sells 20,652 Shares

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Robert Sedran sold 20,652 shares of Canadian Imperial Bank of Commerce stock in a transaction on Thursday, December 12th. The shares were sold at an average price of C$94.97, for a total value of C$1,961,227.51.

Canadian Imperial Bank of Commerce Stock Down 1.0 %

Shares of TSE:CM opened at C$94.40 on Friday. The firm has a fifty day simple moving average of C$87.99 and a two-hundred day simple moving average of C$76.98. Canadian Imperial Bank of Commerce has a 52 week low of C$58.26 and a 52 week high of C$95.50. The stock has a market capitalization of C$89.21 billion, a P/E ratio of 13.66, a PEG ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 4.11%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 52.10%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CM. Scotiabank increased their price objective on shares of Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a research report on Friday, December 6th. BMO Capital Markets raised their target price on Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and upped their price target for the company from C$74.00 to C$90.00 in a research report on Friday, August 30th. Barclays raised their price objective 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. Finally, TD Securities upped their target price on shares of Canadian Imperial Bank of Commerce from C$91.00 to C$98.00 in a report on Friday, November 15th. One 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. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average target price of C$90.00.

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.