Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells C$93,140.00 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Susan Rimmer sold 1,000 shares of the firm’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 Performance

Shares of CM traded down C$0.28 during midday trading on Thursday, hitting C$92.26. 1,305,139 shares of the stock traded hands, compared to its average volume of 3,724,198. Canadian Imperial Bank of Commerce has a 1-year low of C$59.53 and a 1-year high of C$95.50. The firm has a market capitalization of C$87.18 billion, a PE 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 two-hundred day moving average price is C$77.72.

Canadian Imperial Bank of Commerce Increases Dividend

The business 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 dividend of $0.97 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.90. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Friday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 52.10%.

Analyst Ratings Changes

A number of equities research analysts recently commented on CM shares. BMO Capital Markets raised their price objective on shares of Canadian Imperial Bank of Commerce from C$81.00 to C$99.00 in a research report on Monday, November 18th. National Bankshares increased their target price on Canadian Imperial Bank of Commerce from C$86.00 to C$94.00 in a report on Wednesday, November 20th. Cormark upped their target price on shares of Canadian Imperial Bank of Commerce from C$99.00 to C$104.00 in a report on Friday, December 6th. 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 stock a “sector perform” rating in a report on Friday, August 30th. Finally, Scotiabank lifted their price target on Canadian Imperial Bank of Commerce from C$108.00 to C$114.00 in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.