Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells C$188,916.00 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Sandy Sharman sold 2,275 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$83.04, for a total value of C$188,916.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock traded up C$0.70 during trading hours on Wednesday, reaching C$83.60. The stock had a trading volume of 2,491,297 shares, compared to its average volume of 3,758,422. The firm has a 50-day simple moving average of C$74.86 and a 200-day simple moving average of C$69.50. The firm has a market capitalization of C$79.00 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12. Canadian Imperial Bank of Commerce has a twelve month low of C$47.44 and a twelve month high of C$84.17.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last issued its quarterly earnings results on Thursday, August 29th. The company reported C$1.93 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.75 by C$0.18. Canadian Imperial Bank of Commerce had a net margin of 29.56% and a return on equity of 12.37%. The company had revenue of C$6.60 billion during the quarter, compared to the consensus estimate of C$6.31 billion. On average, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 7.5778986 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, October 28th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.60 annualized dividend and a yield of 4.31%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.10%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Canaccord Genuity Group boosted their price target on Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a report on Tuesday, August 13th. UBS Group set a C$70.00 price target on Canadian Imperial Bank of Commerce and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Monday, June 3rd. Cormark raised Canadian Imperial Bank of Commerce from a “market perform” rating to a “buy” rating and raised their price objective for the stock from C$75.00 to C$83.00 in a research report on Friday, August 30th. Finally, Scotiabank increased their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.