Insider Selling: Canadian Imperial Bank of Commerce (TSE:CM) Senior Officer Sells 10,000 Shares of Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Senior Officer Shawn Beber sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of C$81.80, for a total transaction of C$817,960.00.

Canadian Imperial Bank of Commerce Stock Performance

TSE:CM opened at C$83.49 on Monday. The company’s 50-day simple moving average is C$72.58 and its 200-day simple moving average is C$68.64. Canadian Imperial Bank of Commerce has a fifty-two week low of C$47.44 and a fifty-two week high of C$83.64. The stock has a market capitalization of C$78.86 billion, a P/E ratio of 12.08, a P/E/G ratio of 3.01 and a beta of 1.12.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a $0.90 dividend. The ex-dividend date 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 (DPR) is 52.10%.

Analyst Upgrades and Downgrades

CM has been the subject of a number of research analyst reports. Canaccord Genuity Group raised their price target on Canadian Imperial Bank of Commerce from C$74.00 to C$75.00 in a research note on Tuesday, August 13th. TD Securities decreased their target price on Canadian Imperial Bank of Commerce from C$93.00 to C$91.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating and boosted their price target for the company from C$74.00 to C$90.00 in a report on Friday, August 30th. BMO Capital Markets raised their price target on Canadian Imperial Bank of Commerce from C$77.00 to C$81.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, Scotiabank upped their price objective on shares of 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.