Harry Kenneth Culham Sells 47,430 Shares of Canadian Imperial Bank of Commerce (TSE:CM) Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Harry Kenneth Culham sold 47,430 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of C$83.41, for a total value of C$3,956,136.30.

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

• 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 transaction of C$4,093,500.00.

Canadian Imperial Bank of Commerce Stock Performance

TSE:CM opened at C$83.74 on Wednesday. The stock has a market cap of C$79.10 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 3.01 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1 year low of C$47.44 and a 1 year high of C$84.07. The business has a fifty day moving average of C$73.29 and a 200-day moving average of C$68.90.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Monday, October 28th will be given a $0.90 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.60 dividend on an annualized basis and a yield of 4.30%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.10%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CM shares. Desjardins raised their price target on shares of 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 target price on Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Bank of America raised 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 report on Friday, August 30th. Barclays boosted their price objective on Canadian Imperial Bank of Commerce from C$71.00 to C$77.00 and gave the company an “underweight” rating 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 report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average 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.