Canadian Imperial Bank of Commerce (TSE:CM) Director Harry Kenneth Culham Sells 50,000 Shares

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Harry Kenneth Culham sold 50,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of C$83.42, for a total transaction of C$4,170,750.00.

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

• On Friday, September 13th, Harry Kenneth Culham sold 47,430 shares of Canadian Imperial Bank of Commerce stock. The stock was 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 shares were 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 Down 1.1 %

Shares of CM traded down C$0.92 during mid-day trading on Friday, hitting C$82.94. 1,057,497 shares of the company’s stock traded hands, compared to its average volume of 3,752,083. The business’s 50-day moving average price is C$75.47 and its 200-day moving average price is C$69.69. Canadian Imperial Bank of Commerce has a 1 year low of C$47.44 and a 1 year high of C$84.46. The firm has a market capitalization of C$78.38 billion, a P/E ratio of 12.14, a PEG ratio of 3.01 and a beta of 1.12.

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

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Monday, October 28th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.34%. The ex-dividend date is Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 52.10%.

Analysts Set New Price Targets

Several brokerages have issued reports on CM. National Bankshares lifted their target price on shares of Canadian Imperial Bank of Commerce from C$78.00 to C$86.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. BMO Capital Markets lifted 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 note on Friday, August 30th. Desjardins increased their price objective on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Keefe, Bruyette & Woods upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Monday, June 3rd. Finally, UBS Group set a C$70.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. One equities research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.