Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Director Sells C$66,560.00 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Harry Kenneth Culham sold 800 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of C$83.20, for a total transaction of C$66,560.00.

Harry Kenneth Culham also recently made the following trade(s):

• On Wednesday, September 25th, Harry Kenneth Culham sold 50,000 shares of Canadian Imperial Bank of Commerce stock. The stock was sold at an average price of C$83.42, for a total value of C$4,170,750.00.
• On Friday, September 13th, Harry Kenneth Culham sold 47,430 shares of Canadian Imperial Bank of Commerce stock. The shares were sold at an average price of C$83.41, for a total value of C$3,956,136.30.
• On Monday, September 9th, Harry Kenneth Culham sold 50,000 shares of Canadian Imperial Bank of Commerce stock. The stock was sold at an average price of C$81.87, for a total value of C$4,093,500.00.

Canadian Imperial Bank of Commerce Stock Up 0.5 %

CM opened at C$81.74 on Friday. Canadian Imperial Bank of Commerce has a 52 week low of C$47.44 and a 52 week high of C$84.46. The stock has a market cap of C$77.24 billion, a PE ratio of 11.83, a PEG ratio of 3.01 and a beta of 1.12. The business has a 50 day moving average of C$76.72 and a 200-day moving average of C$70.22.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last posted its quarterly earnings data on Thursday, August 29th. The company reported C$1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a return on equity of 12.37% and a net margin of 29.56%. The business had revenue of C$6.60 billion during the quarter, compared to the consensus estimate of C$6.31 billion. Equities analysts anticipate that Canadian Imperial Bank of Commerce will post 7.5827138 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Monday, October 28th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a yield of 4.40%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 52.10%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CM shares. Jefferies Financial Group dropped their price objective on Canadian Imperial Bank of Commerce from C$79.00 to C$78.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and increased their price target for the company from C$74.00 to C$90.00 in a research report on Friday, August 30th. UBS Group set a C$70.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. National Bankshares increased their target price 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 report on Friday, August 30th. Finally, TD Securities reduced their price target on Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating on the stock in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.