Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells C$83,464.29 in Stock

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

Canadian Imperial Bank of Commerce Stock Down 2.0 %

TSE CM opened at C$80.40 on Friday. The firm has a market capitalization of C$75.22 billion, a P/E ratio of 10.62, a PEG ratio of 3.03 and a beta of 1.12. The company has a 50-day moving average price of C$86.10 and a 200-day moving average price of C$87.20. Canadian Imperial Bank of Commerce has a 52 week low of C$64.02 and a 52 week high of C$95.50.

Canadian Imperial Bank of Commerce Dividend Announcement

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 paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is 47.55%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group lowered their price target on Canadian Imperial Bank of Commerce from C$102.00 to C$96.00 in a research report on Friday, February 14th. TD Securities cut their price target on shares of Canadian Imperial Bank of Commerce from C$100.00 to C$99.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Canaccord Genuity Group raised their price target on shares of Canadian Imperial Bank of Commerce from C$92.00 to C$99.00 in a research report on Friday, December 6th. Cormark increased their target price on Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a research note on Friday, December 6th. Finally, Scotiabank decreased their price target on Canadian Imperial Bank of Commerce from C$114.00 to C$95.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$93.50.

About Canadian Imperial Bank of Commerce

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.