Harry Kenneth Culham Sells 800 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Harry Kenneth Culham sold 800 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were 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 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 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 Price Performance

Shares of CM stock traded down C$0.97 during trading hours on Thursday, hitting C$81.31. The company had a trading volume of 2,244,502 shares, compared to its average volume of 3,840,983. The company’s fifty day moving average is C$76.24 and its 200 day moving average is C$70.01. Canadian Imperial Bank of Commerce has a fifty-two week low of C$47.44 and a fifty-two week high of C$84.46. The stock has a market capitalization of C$76.84 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last announced its quarterly earnings data 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 firm had revenue of C$6.60 billion during the quarter, compared to analysts’ expectations of C$6.31 billion. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 7.5827138 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Monday, October 28th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 52.10%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. National Bankshares boosted 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 note on Friday, August 30th. Desjardins raised their price objective on Canadian Imperial Bank of Commerce from C$77.00 to C$83.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. UBS Group set a C$70.00 price target on shares of Canadian Imperial Bank of Commerce and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and upped their target price for the company from C$74.00 to C$90.00 in a research report on Friday, August 30th. Finally, Royal Bank of Canada upped their target price 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 note 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.