Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells 37,022 Shares of Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Christina Charlotte Kramer sold 37,022 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$83.40, for a total transaction of C$3,087,634.80.

Canadian Imperial Bank of Commerce Stock Up 0.3 %

CM traded up C$0.22 during trading on Monday, reaching C$83.71. 1,375,272 shares of the company’s stock were exchanged, compared to its average volume of 3,682,804. The company has a market capitalization of C$79.07 billion, a P/E ratio of 12.08, a PEG ratio of 3.01 and a beta of 1.12. The business has a 50 day moving average price of C$72.58 and a 200 day moving average price of C$68.64. Canadian Imperial Bank of Commerce has a fifty-two week low of C$47.44 and a fifty-two week high of C$83.92.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.90 per share. The ex-dividend date is Friday, September 27th. This represents a $3.60 annualized dividend and a yield of 4.30%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.10%.

Analysts Set New Price Targets

CM has been the subject of a number of recent research reports. National Bankshares increased their price target on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and lifted their target price for the stock from C$74.00 to C$90.00 in a research report on Friday, August 30th. Scotiabank lifted their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Monday, June 3rd. Finally, BMO Capital Markets upped their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and a consensus price target of C$79.15.

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.