Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells 1,027 Shares of Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Sandy Sharman sold 1,027 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of C$81.27, for a total transaction of C$83,464.29.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock traded up C$0.12 during trading on Wednesday, reaching C$82.99. The company had a trading volume of 2,623,882 shares, compared to its average volume of 3,929,082. Canadian Imperial Bank of Commerce has a fifty-two week low of C$64.02 and a fifty-two week high of C$95.50. The firm’s fifty day moving average is C$86.60 and its 200-day moving average is C$87.10. The company has a market cap of C$77.64 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 3.03 and a beta of 1.12.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 47.55%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CM. Royal Bank of Canada set a C$108.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock an “outperform” rating in a research report on Monday, March 17th. Canaccord Genuity Group upped their target price on Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. UBS Group dropped their target price on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a report on Friday, February 14th. TD Securities reduced their price target on Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Cormark increased their price objective on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$93.50.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce is Canada’s fifth- largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.