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 company’s stock in a transaction that occurred 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 Performance

TSE CM traded down C$0.28 on Thursday, reaching C$92.26. The stock had a trading volume of 1,305,139 shares, compared to its average volume of 3,724,198. The stock has a market cap of C$87.18 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12. The business’s 50-day moving average price is C$88.88 and its 200 day moving average price is C$77.72. Canadian Imperial Bank of Commerce has a 12-month low of C$59.53 and a 12-month high of C$95.50.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $3.88 dividend on an annualized basis and a yield of 4.21%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.10%.

Analysts Set New Price Targets

A number of equities research analysts have commented on CM shares. National Bankshares increased their price objective on shares of Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a research report on Wednesday, November 20th. Canaccord Genuity Group increased their target price on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a report on Friday, December 6th. Royal Bank of Canada lifted their price target on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a report on Friday, August 30th. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and increased their price objective for the company from C$74.00 to C$90.00 in a report on Friday, August 30th. Finally, UBS Group boosted their target price on Canadian Imperial Bank of Commerce from C$94.00 to C$102.00 in a research note on Monday. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.