Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells 1,000 Shares of Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Susan Rimmer sold 1,000 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of C$93.14, for a total transaction of C$93,140.00.

Canadian Imperial Bank of Commerce Stock Up 0.8 %

Shares of Canadian Imperial Bank of Commerce stock opened at C$92.50 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of C$59.53 and a 12-month high of C$95.50. The company has a market capitalization of C$87.41 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 3.03 and a beta of 1.12. The firm’s 50-day moving average price is C$89.30 and its two-hundred day moving average price is C$78.08.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 4.19%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 52.10%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Scotiabank lifted 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. UBS Group boosted their price target on Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research report on Monday, December 16th. Royal Bank of Canada raised their price objective 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 report on Friday, August 30th. Desjardins boosted their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and raised their price target for the company from C$74.00 to C$90.00 in a report on Friday, August 30th. One 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 stock has an average rating of “Moderate Buy” and a consensus price target of C$92.67.

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.