Hratch Dikran Panossian Sells 5,530 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Hratch Dikran Panossian sold 5,530 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$79.89, for a total value of C$441,791.70.

Canadian Imperial Bank of Commerce Trading Down 0.1 %

Shares of TSE CM opened at C$82.03 on Wednesday. Canadian Imperial Bank of Commerce has a 12 month low of C$47.44 and a 12 month high of C$82.30. The stock has a 50 day moving average of C$71.56 and a 200-day moving average of C$68.21. The company has a market capitalization of C$77.48 billion, a P/E ratio of 11.87, a P/E/G ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 annualized dividend and a dividend yield of 4.39%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.10%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CM. BMO Capital Markets raised their price target on 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. Royal Bank of Canada raised their price target on Canadian Imperial Bank of Commerce from C$69.00 to C$74.00 and gave the stock a “sector perform” rating in a research report on Friday, August 30th. Canaccord Genuity Group raised their price target on Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research report on Tuesday, August 13th. Barclays raised their price target on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the stock an “underweight” rating in a research report on Friday, August 30th. Finally, Cormark raised Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and raised their price target for the stock from C$75.00 to C$83.00 in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$79.15.

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.