Canadian Imperial Bank of Commerce (TSE:CM) Director Sells C$51,735.00 in Stock

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) Director Nicholas D’orr Le Pan sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of C$103.47, for a total transaction of C$51,735.00. Following the transaction, the director now directly owns 3,019 shares of the company’s stock, valued at approximately C$312,375.93.

TSE CM traded up C$0.29 during trading hours on Friday, reaching C$103.22. 305,440 shares of the company traded hands, compared to its average volume of 1,598,219. Canadian Imperial Bank of Commerce has a 12 month low of C$99.51 and a 12 month high of C$125.21. The company has a market capitalization of $45.78 billion and a price-to-earnings ratio of 9.08.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.40 per share. The ex-dividend date is Thursday, June 27th. This represents a $5.60 dividend on an annualized basis and a yield of 5.43%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 47.98%.

Several research analysts have recently weighed in on CM shares. National Bank Financial decreased their target price on shares of Canadian Imperial Bank of Commerce from C$120.00 to C$115.00 and set a “sector perform” rating for the company in a research note on Thursday, May 23rd. Desjardins downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$125.00 to C$118.00 in a research note on Thursday, May 23rd. Barclays downgraded shares of Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from C$120.00 to C$113.00 in a research note on Tuesday. TD Securities downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$135.00 to C$120.00 in a research note on Thursday, May 23rd. Finally, CSFB set a C$116.00 price objective on shares of Canadian Imperial Bank of Commerce and gave the company a “neutral” rating in a research note on Thursday, May 16th. Six investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus target price of C$119.25.

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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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

See Also: Price to Earnings Ratio (PE)

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